USDJPY testing the end of the triangle at the trendline

FX:USDJPY   U.S. Dollar / Japanese Yen
1107 16 33
USDJPY             testing the end of the triangle at the trendline . I'm expecting price to fall tomorow with NFP and start the move of wave 1 of 5
Stop above 104.45, wave c top?
TAS asifrazzaq
Stop depends on money management and your timeframe of choice. But yes, wave C and E are at the same level, so above that
This up move might have been expectations of positive NFP? I can see back down regardless of NFP if we can stay below 104 region.
TAS _VincentP_
Vincent, Would you agree that some people in big banks already know what the number is going to be?
+1 Reply
Banks, hmm, not sure. But I wouldn't be surprised if they at least get rough estimates on the day itself.
TAS _VincentP_
So if they knew the info, or mutual funds, would they try and get the best price before a move? And the best price before a move would be far away from the target. So for me, if price goes up before news, there's a high probability of falling after. Anyway, don't trade today
+1 Reply
I'm staying out till at least an hour after NFP unless market makes a clear move for usdjpy, audusd and eurusd.
TAS _VincentP_
Staying out sounds good. The market is here on monday :)
thank..very good forecast.
TAS nurfirdaus
we'll see today if it is anygood. :)
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