The "Fix" is juuuuust about in...SFIX Stitch Fix is one of my faves, and I am a customer as well. if you haven't tried it yet, I would definitely advise. Very nice service. Anyway, technically speaking I am looking for a repeat of history from the last time the 125 MA support was lost. Then it retraced back up to flirt with it as resistance until meeting its short term downtrend resistance intersection, then came back down for the glorious rebuy zone for the long. Shortly thereafter was liftoff. So, I went ahead and bought Aug 16th C27 today for this short, small move back to resistance. Then I will sell, and wait for the dip to my rebuy zone, at which point I will go ahead with a Dec call, most likely the 30 strike depending on what premium is at that time. In addition to above reasons, today officially filled the gap left from the last time it blasted off due to its earnings report, so we should be free now to move on up. Happy hunting and GLTA!!
125
My USDJPY Jan 23-27 Trading PlanA Good buy trade if price break above @ 115.250 with T.P.1 @ 116.500 and T.P.2 @ 118.198 with S.L. @ 114.200
A Good sell trade if price break below @ 113.990 with T.P. @ 112.550 with S.L. @ 114.800
Here are other risk events
Wednesday, Jan 25, 10:00pm PH time USA Existing Home Sales
Thursday, Jan 26 9:30pm PH time USA Unemployment Claims
Friday, Jan 27, 11:00pm PH time USA New Home Sales
Friday, Jan 27, 7:30am PH time JPY Tokyo Core Consumer Prince Index y/y
Friday, Jan 27, 1:00pm PH time JPY BOJ Core Consumer Prince Index y/y
Friday, Jan 27, 9:30pm PH time USD Advanced GDP q/q
Friday, Jan 27, 9:30pm PH time USD Core Durable Goods Orders m/m
With the recent proclamation of the new US president, it is said that the first few weeks are honeymoon stage thus it may have a positive mood in the US market which may help boost its currency. However, a word or a tweet from Trump may provide volatility in either direction.
My Long term bias is still bullish on this pair but for the week ahead, the bearish strength is yet to be tested.
This is my beliefs and you are welcome to have opposite ones. Having a plan is more important than the actual direction for me.