FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
314 5 4

123ish is key long term resistance.

if the global rally has legs and USDPY reaches that level at the same time than other indices reach key levels, watch

This will open like a gap down it seems.

I might cover my short and wait, trailing stops for now.
YaKa IvanLabrie
Ivan, if it opens down, maybe keep...

I really dont know, Market is so weird:

All agricultural commo: DOWN
Europe looking balistic but overbought.
US on cliff.
Rates telling a very bearish story even if overdone locally.
Crude: could have a local bottom.
USD overbought in general with possibility of extension....

Conclusions are very tough... There is risk to the downside on everything.. It's a junction.
+1 Reply
Can we safely say dollar rally is approaching its end (judging by EURUSD and USDJPY), if not already topped?
YaKa CosmicDust
Locally i really dont know.

we are not yet on forecasted target + You could have excess those targets being too clear.

We are in a world of excesses. You need to factor what you could not think about 3 months ago.

As per my views: I map things, when i see a trade either tactical or strategic, i trade it. Here i see no tactical trade, even less a strategic one... so i keep mapping until something interesting knocks the chart.
+1 Reply
Fair enough. Thanks!
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