colinsheen
Long

USDJPY beware of sharp reversal

FX:USDJPY   U.S. Dollar / Japanese Yen
413 15 5
At least i will not short at this level or if you have open short i'll at least close some to lock in profit.
Thrust out from triangle are meant to be reversed sharp and fast.
Check the charts!
+1 Reply
colinsheen BusinessInMotion
I'm wrong, thanks mate :)
Reply
Mate, I have seen this movie couple of time! First time I was wrong too!!! Since then, I do hold all my savings in JPY! The rest of currencies are toilet paper!
+1 Reply
colinsheen BusinessInMotion
yeah this is a big blood bath, but i'm just worried chasing at this level is as dangerous as catching the knife. I myself is still flat on jpy crosses though.
Reply
there is a big risk at this levels to see the BOJ getting involve! When they do, we could see a 4-6 yen artificial correction that are going to wipe out all positions with tight stop-loss orders, making the cross to go north 1-2 more yen. This artificial correction will draw more sellers making the appreciation of Yen much stronger and quicker.
+1 Reply
Mate, here is not a trading fx market! It is a genuine slaughter house set in motion by US boys!
+1 Reply
colinsheen BusinessInMotion
Yes i really agree with this, slaughter house, so i choose to stand aside...
Reply
It is wise decision! I am short on both JPY & GBPJPY since last week and most probable I will add more position if they will break some key levels. Although in this slaughter house there are no levels!
+1 Reply
colinsheen BusinessInMotion
awesome, good for you mate :D
Reply
Lets hope that BOJ will not ruin my slaughter house blood party!
+1 Reply
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