Pocketbook Reports
June 26, 2022 (approximately 200am CST)
QUICK INTRO
You are back again. I am humbled that you are coming for more. As you all know, I write about cryptocurrencies and my actual first trading love: FOREX. My last report was about the forex pair: CHFJPY. If you missed it, you can catch it here: https://medium.com/@k_warrior/pocketbook-report-9710f848b9e8
I have not looked at the crypto market as much this week but because I’m in a trading group, I do know there was a little bit of bullishness this week. I still think the bears are not through so don’t hold any buys too long without some really good confirmations.
WEEKLY PAIRS WATCHLIST
Keep an eye on the following pairs this week:
- CADJPY
- AUDJPY
- USDCAD
- AUDUSD
- CHFJPY
WHO GAVE MR. JAPPY SOME MILK?
Last week I told you that Mr. Jappy (JPY) was getting beat up AND down by every other currency. Well, he had something for you this week. Mr. Jappy was the strongest currency for the majority of the trading week. He got back at most of his enemy currencies before losing steam by the end of the trading week.
From January 2021, Mr. Jappy currency (the yen) has lost almost 25% in strength. I haven’t dug too much into what is going on with him and them….but maybe that is something to look into. If you have ANY OTHER currency, you will be rich over in Japan.
TRADE ANY PAIR AGAINST THE JPY THIS WEEK
With that being said, you can trade almost any currency against the jappy this week if you so desire.
As you can see from the currency meter chart below, all 7 of the 8 currencies whooped Mr. Jappy’s butt…AGAIN. Unbelievable.
I will be watching CADJPY at the beginning of the week. The Aussie dollar and New Zealand dollar are also good to look at against the weakling…I mean Mr. Jappy.
The Canadian Dollar ended the trading week the strongest. If using the weekly currency meter above, you would be buying the CAD (Canadian dollar) and selling Jappy’s weak butt (JPY).
Keep in mind, with any JPY pair, a strong correction is definitely looming. CADJPY pair has been bullish for 4 months. The RSI on the monthly chart is showing overbought as it is sitting at 76. For those that don’t know, if the RSI indicator is above 70 that is letting you know that bullish (buying) activity may be coming to an end in the near future. Price needs to re-balance.
OH... AND BY THE WAY…..
Psssst….One of my favorite trading buddies from the trading group I’m in, told me to be on the lookout for EURO pairs. EUR has some high alert news coming out this upcoming week. Im not discussing in this report as this report is short of a dissertation at this point, but hey check it out.
Maybe another to add to the list…. <cough, cough> EURJPY. ;-)
Remember, trading buddies don’t let trading buddies drink and trade or is it trade and drive?? Ahhh…Just to be safe, don’t do either.
DISCLAIMER
Every report, I intend to share my thoughts about a currency pair in forex or a coin or token that we are looking at for a possible entry in the cryptocurrency market.
I ALWAYS implore you to do your own due diligence and research. With this report, I hope that it helps you with your trading and investing endeavors.
Keep in mind, I do not consider myself a technical or a fundamental trader NEITHER AM I STATING THAT YOU SHOULD GET INTO ANY COIN OR FOREX TRADE AT THIS MOMENT OR EVER.
This is not financial advice.
Again, please do your own research.
CONCLUSION & GIFTS
That’s it for today.
First things first, I give many more details on Medium. Make sure you subscribe and follow me on my Medium page. You can follow me here.
Secondly, I talked briefly about the amazing trading group I’m in. If you are interested, send me a message here so we can speak directly. It is a private trading group and I would like to make sure we can help you achieve your goals.
As mentioned earlier, we already have a bias of what to expect because we get a report every month for crypto, stocks, futures, and forex. If you are interested in getting the monthly report ONLY so that you can plan your trades for the weeks ahead, you can check that out here. This is just for access to the report.
Again, send me a private message so that we can discuss if you are interested in the actual trading group.
Secondly, if you would like a crypto debit card to pay rent, mortgage, car notes and other bills using your crypto funds, click here: https://use.foldapp.com/r/L9YR43UV
They have a wheel of fortune where you can spin to win satoshis, a whole bitcoin, and other gifts daily. You also can get discounted gift cards using your Fold card. It is a win win and no cost to you. If you don’t have it, sign up using my link above.
Lastly, do you want to be paid for your internet searches? You can do that here. Google is good. Presearch is preferable. Click this link to signup.
Trade responsibly. DO NOT use money you can’t afford to lose.
This is not trading advice.
DYOR.
Have Fun and Happy Trading.
