USDJPY – Down
USDJPY trading plan:
The bullish rally on the US stock market has a positive impact on the value of USDJPY, as assets correlate with each other. This is the turnaround week every single year. If you look for the single best turnaround week for the year, it’s always the second week of October. If you really want to be specific its around about October 14. We forget that seasonality matters to the market. The fourth quarter is on average the best quarter every single year and on average the turnaround week happens the second week of October. It’s because of the post summer, post September malaise you look at when the markets see the greatest amount of income coming in post rebalancing at mutual fund at quarter end, its money coming back into the market. Seasonality right now is playing into this.
Investment idea: buy 148.60 and take profit 149.10.
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