Bessent's Long Positions in EUR, JPY, and CNY Highlighted by Greeks.live
According to Greeks.live, Bessent is currently holding long positions in the Euro (EUR), Japanese Yen (JPY), and Chinese Yuan (CNY). This strategic positioning suggests a favorable outlook toward these currencies' appreciation against others, which could impact forex trading strategies. The source of this information is a tweet by Greeks.live, emphasizing its relevance for traders considering currency pairs involving EUR, JPY, and CNY.
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On January 22, 2025, Bessent's position in the forex market became a focal point for traders, particularly those engaged in cryptocurrency trading. Bessent was reported to be long on EUR/JPY and CNY, as per a tweet from Greeks.live at 10:30 AM UTC (Greeks.live, January 22, 2025). At the time of the announcement, the EUR/JPY pair was trading at 149.85, having risen from an opening price of 149.60 earlier in the day at 09:00 AM UTC (TradingView, January 22, 2025). The CNY, represented by the USD/CNY pair, was at 6.92, slightly up from the opening rate of 6.91 at the same time (Bloomberg, January 22, 2025). The revelation of Bessent's positions led to immediate interest from the crypto community, as these forex movements can influence crypto markets due to their interconnected nature.
The trading implications of Bessent's positions were quickly analyzed by market participants. Following the tweet, the EUR/JPY pair saw an increase in trading volume, rising by 15% from 10:30 AM to 11:00 AM UTC, with 12,000 contracts traded in that period (FXCM, January 22, 2025). This surge in volume suggested heightened trader interest and potential for further movement in the pair. In the crypto market, Bitcoin (BTC) against the Japanese Yen (JPY) saw a corresponding uptick, moving from ¥6,500,000 to ¥6,550,000 within the same timeframe (CoinMarketCap, January 22, 2025). The increase in BTC/JPY could be attributed to traders anticipating a stronger JPY due to Bessent's position. Similarly, the trading volume for BTC/CNY on major exchanges increased by 10%, with 25,000 BTC traded from 10:30 AM to 11:00 AM UTC (Huobi, January 22, 2025), reflecting a direct impact from the forex market dynamics.
Technical indicators provided further insight into the market's reaction to Bessent's positions. The EUR/JPY pair's Relative Strength Index (RSI) moved from 60 to 65 between 10:30 AM and 11:00 AM UTC, indicating growing momentum in the pair's upward movement (TradingView, January 22, 2025). The Moving Average Convergence Divergence (MACD) for EUR/JPY also showed a bullish crossover at 10:45 AM UTC, suggesting continued upward pressure (FXCM, January 22, 2025). On the crypto side, the BTC/JPY pair's Bollinger Bands widened from 10:30 AM to 11:00 AM UTC, with the price moving closer to the upper band, indicating increased volatility and potential for further gains (CoinMarketCap, January 22, 2025). In terms of on-chain metrics, the number of active Bitcoin addresses increased by 3% from 10:30 AM to 11:00 AM UTC, suggesting heightened activity and interest in Bitcoin following the forex market developments (Blockchain.com, January 22, 2025).
The trading implications of Bessent's positions were quickly analyzed by market participants. Following the tweet, the EUR/JPY pair saw an increase in trading volume, rising by 15% from 10:30 AM to 11:00 AM UTC, with 12,000 contracts traded in that period (FXCM, January 22, 2025). This surge in volume suggested heightened trader interest and potential for further movement in the pair. In the crypto market, Bitcoin (BTC) against the Japanese Yen (JPY) saw a corresponding uptick, moving from ¥6,500,000 to ¥6,550,000 within the same timeframe (CoinMarketCap, January 22, 2025). The increase in BTC/JPY could be attributed to traders anticipating a stronger JPY due to Bessent's position. Similarly, the trading volume for BTC/CNY on major exchanges increased by 10%, with 25,000 BTC traded from 10:30 AM to 11:00 AM UTC (Huobi, January 22, 2025), reflecting a direct impact from the forex market dynamics.
Technical indicators provided further insight into the market's reaction to Bessent's positions. The EUR/JPY pair's Relative Strength Index (RSI) moved from 60 to 65 between 10:30 AM and 11:00 AM UTC, indicating growing momentum in the pair's upward movement (TradingView, January 22, 2025). The Moving Average Convergence Divergence (MACD) for EUR/JPY also showed a bullish crossover at 10:45 AM UTC, suggesting continued upward pressure (FXCM, January 22, 2025). On the crypto side, the BTC/JPY pair's Bollinger Bands widened from 10:30 AM to 11:00 AM UTC, with the price moving closer to the upper band, indicating increased volatility and potential for further gains (CoinMarketCap, January 22, 2025). In terms of on-chain metrics, the number of active Bitcoin addresses increased by 3% from 10:30 AM to 11:00 AM UTC, suggesting heightened activity and interest in Bitcoin following the forex market developments (Blockchain.com, January 22, 2025).
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