uj if takes out 118.4 then expect move down to 116 again.. but if uj keep this low then expect move to 124.. for short term.. i am thinking move up from 120.5 for 122 and possible on monday we see move up from 121.15 area as well.. without coming down..
uj went 300 pips up... this is big move... everytime BOJ speaks and uj rise then uj always goes for more rise... check past moves.. BOJ talked and uj jumped from 109.3 towards 112 and from there towards 121 in very short time...
The major difference in between both banks is BOJ using negative interest rate policy and FED is using positive interest rate policy which means both banks are going into opposite direction which convince to me go long on this pair and technically it seems to me this correction is going to end very soon as we are facing triple 3 drive moves and price can break up if it maintains its sharpness this time but one more move down is also possible because this pattern allows it and thank you for your comments
after boj moves... uj technicals are completely changed... from last 2 months uj is in down move.. and boj has completely changed the whole direction by putting it above 120... to me uj good to buy on dips under 121 and if sell then only above 122 area.. for short time..
absolutely you are wright it can bounce off because we have room for one more move down before it goes up because i am counting it as complex triple 3 pattern which allows one more move down . what i am looking for now if it goes sharply as it is going it can break up and if it breaks up we have a very nice opportunity to go long on retest
Yes arif you are wright it can stay between these ranges for next couple of weeks if we don't see any surprise from nonformpayrol as we know clearly that we are in a bigger corrective structure and when this corrective structure gonna end nobody knows only a clear break will give us signal that correction has end.
Yes I think it's not a good idea to chase the running candles only buy when you see correction has ended at least on 50 to 60 percent revarsal then buy I was holding position from 117.800 and hoping for the break up