FxWirePro: GBP/NZD retreats slightly but trend is still bullish 
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FxWirePro- Woodies Pivot(Major) 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro- Major Pair levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
FxWirePro: USD/ZAR edges higher but bearish outlook persists 
Recent price action on world's equity markets, and bids on Yen indicating that Bears are still hovering. Concerns over further slowdown in China hasn't totally ebbed and it is going to be the hottest topic in this week's G20 leaders' summit followed by rate hike bets by US Federal Reserve.
Yen is now trapped under two forces, while central banks' policy divergence is likely to push Yen against Dollar, for which we had initiated long call few days back to target area of 124.5 and with stop around 116, recent low and critical support.
Though our call hasn't soured as stop loss remains quite far, we are temporarily withdrawing the call looking at recent price action and better risk reward.
Trade idea
- Sell USD/JPY with target around 114.5 area and stop loss around 121.6-122 area. We are expecting further turmoil in financial market.
Kindly note we are not in favor of this position beyond stop loss if risk aversion subsides.
