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Published on Sep 30, 2016
The
USD/JPY pair went back and forth on Friday as we continue to see quite a
bit of volatility. The candle is somewhat neutral, but at this point in
time the one thing that I am paying the most attention to is the 100
handle which seems to be a bit of a “line in the sand” when it comes to
the Bank of Japan. I believe that they are going to defend that area
through various moves and vocalizations, so it’s only pullback I’m
looking at it as a potential buying opportunity. I recognize that there
is a lot of noise above, so truthfully are going to have to be able to
deal with some type of volatility if you’re planning on making money in
this market.
Published on Sep 30, 2016
The
Euro initially fell during the course of the day on Friday, but found
enough support near the 1.1150 level to turn back around and form a
hammer. The hammer of course is a very bullish sign, and as a result if
we break above the top is hammer I think of this market might try to
grind its way higher but I expect quite a bit of volatility between here
and the 1.1350 level above. Pulling back, the market should find plenty
of support though, so this point in time I think it’s probably an
exercise in futility to try to make any serious money in this market,
and with that being the case I am standing on the sidelines as this
market looks like it’s going to continue to be very choppy again and
again.
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