I think that it's time to change the direction of the Yen. We have formed some bottom at the downside of the Donchian channel. Let's see if this will be the beginning of a major correction. I take some.
Comments
sound.shai
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I think you have a point here. The JPY pairs are falling hard now but CAD/JPY is keeping it above the support. I think it's time to buy.
ForceFollower
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Well, for the time being, short is the better option, because these lows clearly are not willing to hold...
ForceFollower
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I'm still short here. But both currencies may strengthen soon, with the yen being the stronger one. Take also into account that even on your chart the basic down trend line has not been broken yet, so the odds are still with the sellers.
motleifaul
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You are right. I am stopped out. Ironically CAD and JPY are the only currencies I made loss past year. Starnge, isn't it. I had thought at the end of the year whether I should drop dealing in them for a while. As you see, I didn't. And you see the result. :-(