Hello traders,
After the BoJ fiasco I had to restate my assumptions and my long term bias on this pair.
It seems as though the BoJ wants to drive price below 100.00
before announcing massive QE programs to address their debt issues.
A strong yen will highly impact exports on the downside and they don't want that.
Even though I was anticipating this from much earlier that wont seem to happen in the near future.
As instead the bears will hunt USDJPY further down the road.
.
So it's very dangerous calling a reversal at this point and very risky indeed.
If you didn't go short on the initial move its highly recommended that you stay out of shorts either.
There are many supports in between and a lot of structure below this level.
My analysis shows certain prices to keep an eye on.
Don't use this information as a signal because the signal should be generated depending on
how the price behaves around those areas. Wait for PRZ to be tested. And act accordingly.
If you see price showing a complete disregard for these levels might as well follow the trend.
Trade safe, trade well.
After the BoJ fiasco I had to restate my assumptions and my long term bias on this pair.
It seems as though the BoJ wants to drive price below 100.00
before announcing massive QE programs to address their debt issues.
A strong yen will highly impact exports on the downside and they don't want that.
Even though I was anticipating this from much earlier that wont seem to happen in the near future.
As instead the bears will hunt USDJPY further down the road.
.
So it's very dangerous calling a reversal at this point and very risky indeed.
If you didn't go short on the initial move its highly recommended that you stay out of shorts either.
There are many supports in between and a lot of structure below this level.
My analysis shows certain prices to keep an eye on.
Don't use this information as a signal because the signal should be generated depending on
how the price behaves around those areas. Wait for PRZ to be tested. And act accordingly.
If you see price showing a complete disregard for these levels might as well follow the trend.
Trade safe, trade well.