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Yen as a safe haven


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What a difference a couple of weeks make!! A false break out to the downside mainly driven by the deescalation of US - Iran tensions created a short squeeze in the Yen. Target would be gap fill a

Didn't see you post until just now @dmedin, don't see the Yen as any more manipulated than any other government backed currency and don't get me started on crypto manipulations (think Ponzi!).  As I m

There are a number of so-called safe haven assets or markets that are frequently mentioned in trading and investing circles such as utilities, gold, USD and so on.  The Yen falls into this category mo

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Stocks buy the dips put paid to further USDJPY bearishness and signals suggested a relief rally at least.  I imagine the Bear will get going again when stocks turn again, especially now that USD looks to have turned.

USDJPY-Daily_020320.thumb.png.fad2a58f476839705cc2af2090c15143.png 

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Still waiting for this pair to retrace to consider adding Shorts.  A stocks rally would help, as would a general USD relief rally.  Price has been stopped for now at the lower Triangle support line, let's see if this provides the springboard for a relief rally.  If we do see a USD and Stocks rally then this pair could rally disproportionately higher than USD generally.

LT the picture looks good for an extended and significant bear run, once the first relief rally is done.  A H&S forming right should could be on but that is speculation at present, however it does fit with my DX analysis.

USDJPY-Monthly_070320.thumb.png.375a391397805d02d36e8525d6f9dbf9.pngUSDJPY-Weekly_070320.thumb.png.6381f6b9fa09623e359794584d6f2d9d.pngUSDJPY-Daily_070320.thumb.png.5cc8f50c5d8e584c5743d1026d840e85.png

 

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  • 2 weeks later...
27 minutes ago, MarcoEsq said:

USD proving to be the safer haven in this crisis.

Yes indeed..being the most liquid and traded currency, the USD always prevails in times of major financial stress. The USD also rallied during the height of the financial crisis in '08

and of course it is the world reserve currency :)

There's a nice article below by IG on the top 10 most traded currencies if you want to do further reading..

 https://www.ig.com/uk/trading-strategies/what-are-the-top-10-most-traded-currencies-in-the-world-200115

 

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3 hours ago, Level_Trader said:

 

and of course it is the world reserve currency :)

 

I read a lot of articles about the world's desire to  move away from the Greenback in the last year, not so much lately.

 

 

 

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