Pain likely to continue
=> Confirming a break of the channel earlier in the quarter we are seeing the knife really being stuck in here. A test of the highs seems only a matter of when, rather than if.
=> Our previous ZARJPY trade (see related ideas) was a flawless 7% move via the combo of S.Africa slipping into technical recession and the loss of investor confidence via protectionism.(edited)
=> Some mild profit taking has gone on this week after pealing the first resistance layer. Eventually this will take the 16.00 handle and banks will start reacting badly. For those trading the ST we will also be uploading a daily chart of this pair.
=> Good luck
=> Our previous ZARJPY trade (see related ideas) was a flawless 7% move via the combo of S.Africa slipping into technical recession and the loss of investor confidence via protectionism.(edited)
=> Some mild profit taking has gone on this week after pealing the first resistance layer. Eventually this will take the 16.00 handle and banks will start reacting badly. For those trading the ST we will also be uploading a daily chart of this pair.
=> Good luck
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