Watching NZDJPY for breakout

Let's be honest: It's been a rather boring week in FX and I'm happy it's drawing to a close. Yellen's comments didn't really provide any new information, yesterday's Draghi presser was a snoozer, volatility in G10 FX was subdued. Only Theresa May's Brexit speech moved markets by giving a short-lived boost to the GBP, but that's unlikely to persist with actual Brexit negotiations on the horizon.

Looking forward, Trump might stir things up from early next week. I still favour USD long trades but, as I've said before, I'm waiting for a catalyst before entering into a new position.

I also like NZDJPY long with a potential breakout above 83.29-.75 that might extend to 88 or even 93. In addition, the pair offers a bit of a carry pickup. On the sidelines as of now, but standing ready to open that trade if momentum doesn't fade.

NZDJPY 20/01/2017G10 Interest Rates 20/01/2017Open positions as of 20/01/2017 9:00am CET: Flat

Realized YTD return: +0.7% from 2 trades

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