USDJPY The Sky Is The Limit

FX:USDJPY   U.S. Dollar / Japanese Yen
So, the USDJPY             continues the bullish trend and clearly nothing can stop it. It is more because of the yen's weakness than the greenback's strength, but still both currencies are on polar opposites of their relative strength . Thus most corrections should present good buying opportunities. Admittedly, at 113 the pair has reached the long term rising resistance, but its influence on price action may be only temporary or weak, given the strength of the trend.
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Agreed, but after this long leg up I am watching for a retracement . Don't you expect the 110 seen before up again?
motleifaul motleifaul
Looks like there is no substantial retracement ahead. The influence of the monetary easing in Japan seems to be to strong.
ForceFollower motleifaul
Thank you, motleifaul, for your comment. I am also waiting for some nice retracement to reenter this market, because I was long when it was bouncing off of 105.4 but then, above 108, I've been actually watching most of this rally standing on the sidelines. :-(. Yes, 110.0-110.1 seems to be the natural support level, where I'd be looking to go long. However, is it going to retrace down to this level? I don't know, the trend is very strong, the demand may step in higher, like at 112.3 and the plane may take off again. I think it may be heading for 114.25. On the other hand, those guys who've already made a ton of money, might be tempted to cash in their profits, so a deeper retracement may occur just as well. Markets have taught me that anything is possible.
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