Sforex

USDJPY: where and why I buy.

FX:USDJPY   U.S. Dollar/Japanese Yen
186 0 2
Last week, USDJPY             rejected 123.75 level and bounced back from that level. I mark this is a resistance for USDJPY             .

With USDJPY             ,we need to answer a question: Does Stock rally if FED hike rate ?

Usually, when a central bank hikes rate, equity market falls down cause of higher borrow cost,but if a rate hike decision helps to cool down a hot economy, everything will be different.

FED need to provide a clear path for next monetary policy . After a rate hike , what next ?. More hike or that's it.

Before collecting enough clue, I think traders would not take risk to drive UDJPY higher the resistance at 123.75

However, I maintain bullish view for USDJPY             but must choose better level to entry.

Look at on the chart. SMA200 is at 121.50, this is also an old resistance now become a strong support. BUY there is appropriate for a LONG position.
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