USDJPY breaks 118 again after Crude Oil hits all time lows
"Brent crude futures slumped to the lowest level in more than four years after OPEC refrained from cutting production limits. West Texas Intermediate slid below $70 for the first time since 2010."
(Article: bloomberg.com/news/2014-11-26/wti-oil-extends-drop-from-four-year-low-as-opec-meets-on-output.html)
USD/JPY has rallied, after the OPEC decision to leave production at 30 million barrels of oil per day, while bad news for producers, this is good news for stocks in general. So I decided to reassess my original positioning with the YEN markets until I start seeing a swing in the Oil markets. I’ll be opening a long at 118.2 and closing at 118.5 to reassess the markets once again. Oil on the other hand I should be keeping a closer eye on it.. if we see it bottom near $60 I’ll definitely be glimmering at a chance to jump in
(Article: bloomberg.com/news/2014-11-26/wti-oil-extends-drop-from-four-year-low-as-opec-meets-on-output.html)
USD/JPY has rallied, after the OPEC decision to leave production at 30 million barrels of oil per day, while bad news for producers, this is good news for stocks in general. So I decided to reassess my original positioning with the YEN markets until I start seeing a swing in the Oil markets. I’ll be opening a long at 118.2 and closing at 118.5 to reassess the markets once again. Oil on the other hand I should be keeping a closer eye on it.. if we see it bottom near $60 I’ll definitely be glimmering at a chance to jump in
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