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Webinar: Yen Price Action and the Prospect of Fresh Trends

Webinar: Yen Price Action and the Prospect of Fresh Trends

2016-07-12 18:41:00
James Stanley, Strategist
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Talking Points:

- This is an archived webinar of a previously-hosted session. If you’d like to sign up for our next webinar on Thursday, July 14th at 2pm, please click on the following link to register: Register for 7/14/2016 Price Action Webinar.

- The focal-point for today’s price action discussion was around the Yen after this weekend’s Japanese elections. We had discussed that topic in yesterday’s Market Talk article entitled, S&P 500 Set for Fresh Highs as Japanese Stimulus Bets Prod Stocks.

- We first looked at USD/JPY as a proxy for the Yen-trade; and given the two-day retracement of the prior down-trend, we may be on the cusp of a new intermediate-term up-trend. In today’s webinar, we looked at how traders can analyze price action to follow that theme, by looking to buy a ‘higher-low’ rather than chasing top-side price action.

- We also looked at the prospect of looking for continuation of Yen weakness away from the US Dollar, as USD may remain volatile around the themes of Fed rate hike expectations in the near-term. We first looked at EUR/JPY, and then extrapolated that theme elsewhere in AUD/JPY. We also looked at GBP/JPY, but as discussed, given the recent volatility in GBP, this could make for a bumpy ride against the Yen.

--- Written by James Stanley, Analyst for DailyFX.com

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