USD/JPY achieved weekly target at 114.28 perfectly as written Sunday. Shorts yesterday from 114.15 traded to 114.80 lows for a quick 35 pips. USD/JPY is now overbought and weekly downside target remains 113.30 on a break of 113.71.
GBP/JPY achieved new lows yesterday at 152.36. On a target at 151.78 from 158.00’s, GBP/JPY traded within 57 pips to target. The overall target will not only reach its destination but a 3 week trade for an easy 700 ish pips.
For 700 pips to target without regards to economics or releases, central bank meetings, interest rate changes, taper, Powell, charts fibs, stops, 4-hour charts. A forward currency price doesn’t see or care to 99% to the written word in regards to possible factors for the price.
The written word says: maybe, possible, might shoulda, coulda, woulda, probable. if then then that. All totally irrelevant information.
Long term target trades were not available for the majority of 2021. Only CHF/JPY for 500 ish pips yet the actual target never traded but close at high 116.00’s from 121.00’s. Long term defined as easy trades for 500 and 700 ish + pips and only requirement is click, set target and walk away to live life. Many long-term target trades were shown and written on these pages over prior years.
Long-term trades are now becoming available. Historically, long-term trades seem to become available every 2 years or so. For 2018 and part of 2019 were terrific to long term trades. Then 2020 and now into 2021 was a drought but now end 2021, trades are opening.
The question to 2 years is a factor of our 28 currency pairs and USD Vs Non-USD currencies. Currently, by correlations and by the concept as the 2md side of the currency pair as the price driver, 19 of 28 currencies are USD pairs, moves with USD and driven strictly by USD.
This leaves 9 currencies as non USD such as EUR/USD, GBP/USD. These pairs are anchor pairs to the overall universe of cross pairs. Why only 9 pairs is because anchor pairs are not aligned to respective cross pair universes.
JPY cross pairs align to USD/JPY by correlations, USD/CHF aligns to AUD/CHF and other associated CHF cross pairs, EUR/CAD aligns to USD/CAD and other associated CAD cross pairs.
The standard and permanent USD currencies without regard to USD Vs Non USD are GBP/NZD, EUR/NZD, EUR/GBP, CHF/JPY, EUR/AUD and GBP/AUD. All are married at the hip to USD.
No long-term trades inform USD currencies and NON-USD are married and closely aligned to distances. No trades are available. When USD and NON-USD breakout as is seen today by breaks at long term averages then long term trades open wide for many currencies. Throw a dart at a currency and trade to long-term targets is basically the scenario. Many pips are earned effortlessly and it is the time to truly bank easy pips.
NZD/USD
Next pair to fall and /or monitor closely to 5 year…
Read More: Long term targets, USD/JPY, GBP/JPY, NZD/USD