Quote:
Originally Posted by John Kicklighter
Actually, I'm going to put the carry trade article together tomorrow. You can check it out on DailyFX. I did an update to some of the figures today though and it doesn't look good (mostly because interest rate differential expectations).
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Just for interest, USDJPY has made 604 pips in the 22 calendar days to August 7. It doesn't normally exceed that amplitude in a cycle. For example, May 25 to June 16, the initial upswing sub-cycles to the second larger cycle ended July 16, actually made 575 pips.
From this point, John, I would therefore be looking for shorting opportunities if they occur. The third subcycle of a third cycle within a set, commencing Aug-13 in this case, rarely makes a higher price than the second subcycle, so the top can be in now.
