khandelwalvarun
Long

Buying USDJPY for a new high in the pair.. stop loss at 104.5

FX:USDJPY   U.S. Dollar / Japanese Yen
Kuroda is failing miserably in his goal of having a weaker JPY. The BoJ will start intervening and come in all guns blazing to weaken the JPY.. The fed will remain less dovish than the BoJ at all points in the foreseeable future. From a technical perspective, I think the USDJPY             is at a very important technical support that was twice recently.. and almost 10 years ago. The monthly chart seems like a very interesting inverted head and shoulders pattern. This offers a very attractive entry point from where a long position in be scaled in to.
Trade active: Stop loss should be moved to cost now.
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