Since the commodity currencies (especially AUD and NZD) seem to be taking a life of their own beyond risk on and risk off (yield play); it might make sense to sell USDJPY for risk off and buy AUDJPY and and NZDJPY for risk on
Last week: Post Brexit: Monday risk-off; Tuesday through Friday risk-on
- GBP weakest; helped along by dovish comments from BOE Carney
- Commodity currencies strongest (risk-on)
- Yen weak (risk-on)
- All down on Monday and then up for the rest of the week (risk-on)
- Interest rates down across the board on Monday; mixed after that
- Oil and other commodities up (risk-on)
- Gold up (not sure why)
This week’s potential market moving scheduled news events:
My core strategy is to expect whatever has been happening to continue until proven otherwise.
Accordingly, going into the new week risk on and GBP weakness might possibly be the right focus.
My preference these days is to roll up my sleeves with the 5 minute chart (stay as current as possible) and binary options
(know my exact money risk).
Good luck with your trading this coming week.