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ridethepig | USDJPY Market Commentary 2020.09.12📍 JPY Buyers are threatening to breakout. After 107 comes 110 and then 112.x. But sellers have other trump cards, for example covid. My impression is as follows: as the dollar firms and finds a temporary floor therefore can be considered a bounce into the elections which can be somewhat double-edged. If the preconditions are met, namely if we get a continuation of Abenomics with the leadership elections, and effective parries into the Yen are restrained, then beginning the advance towards 150 may be justified. But we should consider the development here to be EARLY/OPENING game. In light of this, we should take longs on a leash and if the market starts paying we can add more size. The technical breakout would lead to buyers occupying the flows. Equities may felt even more the heat if we see a paralysing effect via temporary USD inflows. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
3
DraftKings Bulls Set to Rally - $DKNGNASDAQ:DKNG Sports betting is continuing to gain traction and acceptance across the United States. With sports actually finding their way back on the field since the long COVID-19 break, you would have to HATE money to not look to get extremely long in this name. From a technical standpoint, it is attempting yet again to breakout of that $26-$41 (two purple horizontal lines) range that PA has been stuck in since printing its last high back at the start of June. The orange box has historically been a strong supply zone, sending us back down to the bottom of the range after attempting to gain price acceptance above the horizontal purple line around $41 in June. If we can get a couple daily bars to print and hold above the first diagonal dark purple line, I like this name to make a strong move to $65 in a relatively short period of time, which would be almost a +58% move from current price of $41. Good Luck. - PennyBags
NASDAQ:DKNGLong
by PennyBagsCapital
Japanese Yen - Continued Divergenece Most of the day the Yen/USD traded lower breaking the 200 Moving Average through the day - first time its done this since this ramp up started. Highlighted in hot pink you can see the points of control notice that most the business was done at lower prices today , but closed higher into the S&P / Nasdaq close. Divergence remains - still time in this trade, thesis remains, lower prices ahead. One point - US dollar is on the cusp of braking an almost 10 year trend line - if this fails then all bets are off. CME:6J1! [/symbol
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CME:6J1!
by Maximilianned
2