darth.stocks
Short

USDJPY: Nice rally on Friday but it is a clear short

FX:USDJPY   U.S. Dollar / Japanese Yen
114 2 5
103-104 seems to be the max target for USDJPY             ... a brexitless view shows an almost perfect shs             formation with a downside target at the bottom of the medium term channel. worth trying a short... except if boj starts further easing.
Comment: obviously boj is preparing something: http://www.bloomberg.com/news/videos/2016-08-29/the-jeopardy-japan-needs-to-work-its-way-out-of ... so don't be for too long on the short side...
Order cancelled
103 104 is good enough, what follows is indifferent for now
Reply
You are correct. It depends on BOJ. In July they announced to increase their purchases fron 3.3 to 6 tril JPY...Till now their purchases were minimal, so it seems they are keeping their powder dry for whatever reason. I expect quit some time action from them.
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