FX:USDJPY   U.S. Dollar/Japanese Yen
a year ago
The fundamentals on this currency pair are strong with the USD being the strongest currency at the moment and the JPY being one of the weakest. It is looking likely that the BoJ will add further stimulus to the economy at the end of this month and with the FED still looking to raise rates in the US albeit a little later than first anticipated we are destined to rally. The technicals have been a bit choppy of late with some consolidation but this is fairly normal for this currency pair and the recent pinbar rejection circled on the chart shows buyers coming into the market. I will take advantage of any pull back this morning with a view to enter around 11900 with a stop loss below the pinbar at 11800 targeting first 12200 then 12500 in extension
a year ago
Comment: moved stop loss to Break even and letting this one run to target
a year ago
Comment: moved stop loss to 12000
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