Courtesy of Read the Ticker.
Every last point of profit has been squeezed out of the USDJPY move.
NOTE: The inverted FXY (ie +FXY with readtheticker.com) equals the USDJPY trend.
Trading plans to get great or even good returns on the long USDJPY trade in 2016 is unlikely. The move is long in the tooth and the energy from the Wyckoff ‘Cause’ looks done! The move was a perfect money maker, but nothing last forever.
This move involved selling the YEN and buying USD, this means the the long $USD or DXY trade will be losing a good friend. Traders knowing the $USD has little ground to make will start to build positions in opposite $USD trades like gold, silver and crude oil.
Yes the $USD can go higher, yes the USDJPY can go higher. The point is not far in our view.
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Investing Quote…
..”Every once in a while you must go to cash, take a break, takes a vacation. Do not try to play the market all the time. It cannot be done, too tough on the emotions.”..
Jesse Livermore
..”Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception”..
George Soros
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Bernard Baruch
..”Money couldn’t buy friends, but you got a better class of enemy”..
Spike Milligan
..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..
Warren Buffet
