Good time to short USD/JPY?

[intellimoney]

I know the USD currency is strong so will it weaken or is gold following the same path. Are the two related maybe.

I think to short now would be good strategic move over next month though trading against a trendline can always be dangerous even with stops

 

[wavepicker]

I know the USD currency is strong so will it weaken or is gold following the same path. Are the two related maybe.

I think to short now would be good strategic move over next month though trading against a trendline can always be dangerous even with stops

Intellimoney, I agree with you 100%. Shorting the US dollar is a great trade over the next 6-8weeks. After that correction is finished I think we will have a very strong rally in the US Dollar Index with a target of 100/102 by December next year

Good Luck

 

[Kaizen]

Still holding long. Been it it since 117.855. As it is interest + I am in no rush to et out of it.

There has been allot of news saying USD will weaken but still no sign of it.

 

[wayneL]

You could be right guys, COT data on Yen futures indicate a short.

(The futures chart is the inverse of the forex chart)

However there is not much in the chart to suggest a turn at this point.

 

[RichKid]

You could be right guys, COT data on Yen futures indicate a short.

(The futures chart is the inverse of the forex chart)

However there is not much in the chart to suggest a turn at this point.

Hey Wayne, where do you get those COT charts from? Is it a free source? Such clear COT trends, one line at the top and the other one at the opposite end, too easy!?

 

[wayneL]

Hey Wayne, where do you get those COT charts from? Is it a free source? Such clear COT trends, one line at the top and the other one at the opposite end, too easy!?

Rich

you can get them from www.cot-futures.com

You can get free charts but they can be a month out of date. The latest data available costs $4.95USD per month.

Cheers