Evening Traders!
Boom! Mad day today!
Today was all about safety with a huge flight towards the safe havens.
The USD Futures Index broke the descending trend line, shooting on up to 80.00. A break above this level should be positive for a move on up to the 84.00 area.
What does this mean for USD/JPY? It's a real battle for the safe havens at the moment, but I would prefer to see more Dollar strength than Yen strength in this hard fought battle.
Looking back at todays trade it wasn't pretty for the Dollar. We were stopped on the drop by the monthly R1 pivot point before bouncing up to the daily pivot.
I will remain long and looking to add to the position at 82.00.
USDX Futures
USD/JPY H4
Boom! Mad day today!
Today was all about safety with a huge flight towards the safe havens.
The USD Futures Index broke the descending trend line, shooting on up to 80.00. A break above this level should be positive for a move on up to the 84.00 area.
What does this mean for USD/JPY? It's a real battle for the safe havens at the moment, but I would prefer to see more Dollar strength than Yen strength in this hard fought battle.
Looking back at todays trade it wasn't pretty for the Dollar. We were stopped on the drop by the monthly R1 pivot point before bouncing up to the daily pivot.
I will remain long and looking to add to the position at 82.00.
USDX Futures
USD/JPY H4