USDJPY would've had a great buying opportunity over the course of a few hours ago. It hit a key low on my graphing and bounced off of it for a total gain of 50 pips, going from 111.000 to the current price of around 111.500. I expect USDJPY to retrace some back to 111.250, and then go up to around 112.500 over the next half of the day, if not sooner based on market conditions. The HH and HL's USDJPY is making makes me strongly suggest it will come back down about 20-30 pips before making the climb again back to the 112's. Have a great trading day!
Comments
BrendanSchaefer
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USDJPY followed our bottom trend line almost perfectly. I believe it will continue this until news breaks out this Friday. Be on the lookout for a big jump for USDJPY.