USDJPY meets 122.10/25 resistance area

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             has come above yesterday 121.60 resistance area and extended gains by reaching following dynamic barrier from 02.Dec high 123.67.
The pair has immediately retraced lower which suggest 122.10/25 resistance might send the pair back down to 199.80 bearish target.
Stop loss is set above 122.25 static level.
Trade closed: stop reached: The pair has closed above 122.25
Market seems RISK OFF so I am shorting USDJPY now. Agreed your target unless BOJ upgrade QE tonight.
+1 Reply
rauan masagrooove
Looking for a further short entry on UJ.
How likely is the fundamental change from BoJ?
I am thinking right now, especially the stock market like Nikkei and SPX500 will be sold (as you can see now) so market is going to RISK OFF. Everyone is thinking no more BOJ easing for the foreseeable future but needs attention. But I don't now. (Just my opinion)
rauan masagrooove
Thanks for sharing, at least it reflects general sentiment!
Right, see the projected lower line on the chart.
121.20, 120.80 and 120.32 are intraday support levels.
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