USDJPY: Good to buy on dips

FX:USDJPY   U.S. Dollar / Japanese Yen
1793 55 37
Expecting the pair to resume uptrend following correction of the earlier impulse providing an opportunity to go long.
Trendlines can be deceptive.
piphunters IvanLabrie
agree.. if you depend on it alone, but this upward moved earlier also was deceiving and I was looking at it as an impulse and thus expecting the down move as a correction, which turned out to be an impulse...
IvanLabrie piphunters
True, I wasn't 100% sure, had longs on retrace and actually closed at -0.15% before it turned ugly.
I didn't manage to flip short though, a shame.
+1 Reply
piphunters IvanLabrie
yes too bad you didn't flip, the jpy crosses are right now providing some of the best setups around
IvanLabrie piphunters
Yep, I had all intentions to short actually, then was tempted to long the retrace, but well.
I'm seeing 110 as possible, so, any short term entry is good on the short side.
piphunters IvanLabrie
agree 110 is on the cards now, the monthly and weekly is leading me to believe that even areas near 104-106 is possible in the coming months, good luck!
+1 Reply
Still agreeing, good to buy on dips, BoJ do not want it below 115, may be very good to buy now, but on the other hand if Yellen go dovish this week it can fall even more and break this epical level. Leading us to expect the next move to be aggressive, easing?...
+1 Reply
piphunters Piet.Hein
oh good luck! the monthly and weekly show deep trouble for the pair! I am selling if it goes to around to 116.50 area
Piet.Hein piphunters
thanks, actually I will not enter this now, Im going to wait more. hahah yes, deep trouble technically, Good luck :)
+1 Reply
piphunters Piet.Hein
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