Some serious Yen weakness last week. Friday went into risk off mode and despite the stockmarkets falling and the Vix rising to 17% we didn’t see major Yen strength. Should Yen weakness continue then entry points are indicated below. Keep an eye on FOMC speakers – a weak dollar could see Yen strength return to the market and if we find USD weakness and Yen weakness then that could be followed by some sideways movement. Having opened between WM2 and WPP, continued bullishness could see us get to WM4 at the end of the week, depending on what goes on fundamentally. Keep a close eye on risk sentiment and any US news leading up to 21 September.
a. Please read Kate’s post on Forex Major Currencies Outlook everyday so you are up to date with the latest news. You can follow Kate here
b. Please be aware of risk events for the day by using the Forex.Today calendar
c. Watch Wayne’s webinar daily at 13:30 SAST or catch the recording on the Forex.Today Youtube Channel