Killy_Mel
Long

FX CHART OF THE DAY: MEAN REVERTION UPWARDS PROBABLE USDJPY

FX_IDC:USDJPY   US DOLLAR / YEN
USDJPY             reentered 1st standard deviation from weekly (120-h) mean after a sharp drop earlier this week

In my previous chart I also mentioned that USDJPY             held long term levels (see related)

Price is now likely to tag the weekly mean, as it moves into usual lateral range

USDJPY             is also supported by BOJ, continuing its extensive monetary stimulus

Traders can take long positions close to the lower 1st standard deviation (118.70) targeting the mean (121.00) - with stop below recent lows (118.20)
Killy_Mel
a year ago
UPD!

US NEWS 1230 GMT

JP NEWS 2330 GMT
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