I will looking for a BUY on GJ around the 134 area then i will keep it for a very long term trade because i can see this beautiful double bottom .
My SL will be right under the 138 (BUY AREA) zone.
The risk reward is really good on this trade!
Hey man I like your analysis and after reading through your comments let me warn you about September 21 st. We're now part of two interesting weeks for the next two months. Honestly, I'm on the same page as you are as I already have buy trades on GBPJPY but after some fundamental research we can't be sure. As you must acknowledge that JPY strengthens if USD weakens as JPY is usually a safe haven. In about 3:30 hours we will hear from the most dovish Fed representatives of US and her slightest bullish statements will signals all traders there could be a rate hike on the 21 st. Which means JPY will weaken and potentially it could trigger your buy order at 133 due to volatility or it may gradually go up. Another factor is the JPY easing policy discussions and the rate decision which coincidentally fall on the same day <sept 21 st >. So if BoJ decided to increase easing it signals weakness in JPY and hence more positive for our trades and for your trade that you already have CADJPY. I dont know how big you play but make sure you monitor the events I ve mentioned man. Let's see if the markets do us good or fuck us raw XD. Good luck
i agree but overall xxxJPY are getting really weak if you take a look at others xxxJPY they broke some good bearrish trendline, mean that overall the trend of xxxJPY is now bullish so i wouldnt get on any sell for xxxJPY I will be chasing buy instead =)
pierre, i can see this happeneing, IF it breaks that monthly trendline, and i dont think its time for that yet. this may come true around wenesday. its at level 2 now, got another level of rise, then massive drop , then buy in your area around 133.9