forex scalping in the jpy safe heaven
Today is a very crucial day because Europeans will deside if Greece will remain in the Euro area.
As the charts said in the previous days and worlds top banks in the insider trading section of our forum jpy is the safe haven currency .
Northern lights strategy is switched in shorts only signals in eurjpy.
We have entered 135,21 and we have closed our forex scalping targets trailing now at +73 pips.
Northern Lights scalping chart at 15 seconds
Japan: Biggest monthly USD/JPY buying by margin traders – Nomura
Tue, Jul 07 2015, 04:27 GMT
“Based on data released by a Japanese margin trading company, Japanese margin traders bought USD/JPY aggressively last Monday and Tuesday, as they are usually contrarians in the FX market. We estimate margin traders bought USD/JPY to the tune of JPY805bn ($6.5bn) on 29-30 June.”
“Margin traders’ USD/JPY position recorded the biggest net selling ever, as of end- May, according to the Financial Futures Association Japan. Their positions reached JPY245bn ($2.0bn) of net selling as of end-May. However, as USD/JPY dipped several times during June, after Governor Kuroda’s comments on JPY REER, the dovish FOMC and the Greek decision to hold a referendum, margin traders bought USD/JPY on dips in June.”
“We estimate USD/JPY positions as of end-June recovered to JPY1730bn ($14.0bn), and total USD/JPY purchases during the month reached a record amount of nearly JPY2trn ($16bn). Since then, USD/JPY position declined slightly later last week, while margin traders’ USD/JPY buying demands are likely to remain high this week as USD/JPY has dipped again.”
“The latest developments on the Greek situation cause uncertainty for USD/JPY outlook, but retail investors’ demands for JPY selling via toshins and margin trading look strong. Strong JPY selling from Japanese investors should limit the downside risk of USD/JPY, while the pricing of a Fed rate hike at the moment is conservative. We continue to recommend holding a USD/JPY long bias over the next few months.”