FX:USDJPY U.S. Dollar/Japanese Yen
Comment: Let's see if we can break and close below the trend line. Looking to add to my position.
Comment: Looking Good Have some support around 105.50
Comment: 105.50 comming up
Comment: I will be tacking off a quarter off my position around 105.00 We could see a retracement back to 105.50
Comment: My limit order was hit this morning for the remainder of my position @104.10 I think we might see a retracement or consolidation from hear. There is US data, Consumer confidence and new home sales coming out in 15 min 8AM EST. there's still downside potential and I will be looking to re enter shorts. My new bearish invalidation level @106.72
I apologize for the late response. Technicals are still bearish but i'm not looking to trade any of the Yen pairs before BOJ tonight. Fundamentally it's a mixed picture With the BOJ expected to cut interest rates deeper into negative territory. There's going to be a lot of volatility around the Yen tonight. It prudent to wait to we get through this event risk and see what governor kuroda has to say and also for the markets to settle so we could find a clear direction to trade in. Note If the BOJ disappoints (Not implementing a larger stimulus package or cutting rates) then we will see Yen strength across the board.