Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

USDJPY – Short Term Bottom Done Despite Rising Yields?

30 sec read

USDJPY currently trading around 108.71 with relatively thin volumes as Japanese markets are in holiday and despite rising US Markets and 10-year note yield now at 2.90%, surpassing last week’s 4-year high. trading higher USDJPY pair is little changed from Fridays closing.

Early Tuesday, Japan will release its January Domestic Corporate Goods Price index and preliminary Machine Tool Orders. Japanese Preliminary GDP is expected to slow to 0.2% in the fourth quarter. Last week global market sell off triggerred strong relativity in currency markets. USDJPY made a low of 108.04, its lowest since September 2017.

Price momentum divergence is clearly visible on the 4 hour charts as the price is clearly moving in a sideways direction whereas momentum indicator MACD is showing a significant divergence which indicates potential trend reversal from the bottom. Short term supports coming around 108.20 with potential mean reversion could extend towards 110 and 110.5 levels.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Dollar Index Made a Top Formation

Finally, the dollar strengthening came to an end from a short term perspective. The dollar index tracks the relative value of the U.S. dollar...
Rajandran R
32 sec read

Public Caution: RBI Issues Alert List on Overseas Forex/CFD…

Very recently Reserve Bank of India cautioned investors/traders/public not to undertake forex trading on unauthorised platforms and also provided an Alert List. The Alert...
Rajandran R
1 min read

UPI Lite Explained

NPCI now wants people to make small value transactions through UPI offline. If you want to store money on your phone or tablet, you...
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More