CADJPY eyeing up 100

Or not.

You see, the Robber Banks whacked it yesterday to below another whole number. Today, the AS MMs have done nothing to pump to short. Actually, they are doing the opposite. They just took price back below the whole number, around which price has been oscillating. And this move has been followed by increased activity.

So, unless you figure the MMs prefer to load up on shorts at lower prices when they could do so at higher prices, we must conclude the MMs are bulls now, bulls that covet lower prices for accumulating long orders.

Will they take price to 100.00? We cannot know, ever! But the way things are, they might not. They might use this area at 101 and a bit below to buy to close shorts and to buy to open longs. And with all that buying there might not be enough suckers still shorting it to make it worth whacking it to 100. Unless it is an instantaneous whacking by the Robber Banks with limit orders shut out so they don't have to fill any long orders for other folks.

It can still 'eye it up' without getting there!

It has made a little effort to go down at least, and as you point out may not make it to 100. I cannot account for the individual groups of MM, Banks etc. defending their positions (as they all have different objectives anyway). Therefor I tend not to tie myself up in knots over MM fears these days - if I get stopped out, so be it. If i keep on getting stopped out then I'm putting my stops in silly places.

As long as it remains below 101.20 swing high then all is good. Either way near-term trend is down and that is what my analysis says - right or wrong I'l find out in due course as the market tells me.