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
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)