Just like GN a line had been on both sides been respected and power seemed to ease of on friday suggesting maybe its overbought and a short term retrace is on the cards.
I will be monitoring the action around the and should price fail to break it throughout the week a short position back to support could be taken.
We are looking as well at the 140 area (price seemed to form a ). Should Bulls take price beyond that level there is no doubt that 150 is the target as Bank Of Japan would love a weaker yen.
Based on the promise of a weaker yen, I will remain long term on this pair but I am not discounting a retrace below the to form a triple bottomed charge to the top.
High has made this pair one of my favourite to swing trade.
Trade safely :)