From Melduke: Dick Cheney has ordered top Neo-Con media outlets, including Fox News and the Wall Street Journal, to unleash a PR blitz to sell a war with Iran from today, according to Barnett Rubin, the highly respected Afghanistan expert at New York University. The New Yorker magazine reports that Rubin had a conversation with a member of a top neoconservative institution in Washington, who told him that "instructions" had been passed on from the Office of the Vice-President to roll out a campaign for war with Iran in the week after Labor Day.
Feel like buying more Eurodollars...
Have placed order to sell the break of 231.90 in GBPJPY.
Just wondering, are the GBPJPY shorts purely technical, based on the retracements, support, and resistance?
ReplyDeleteOr do you have a fundamental reason why you are biased toward the short side?
Thanks!
no fundamental reason as such other than my view that I see more risk reduction soon and thus further JPY buying.
ReplyDeleteWhen I trade breakouts like this one I rely on a statistical model that looks at volatility structures for GBPJPY within certain timeframes. If it determines that a "big" move is near I then examine where CTAs and institutional players have placed their stops (on their longs). Looking at 2-hour chart for GBPJPY, 231.90 is prime level...