I think that retail traders in the main are expecting this pair to crash from 150, I have been, and it may well do (as per my related idea below)...
Commentators and past experience suggests that the BoJ will intervene around 150 to 151.5 because they have to, due to the debt relationship with the USA, they're stuck between a rock and a hard place.
We all know what happens when retailers think they know best...I'm starting to think that we'll push higher to 154 before the dump.
I think the current global conflict will help the USD get there, but that level will be unsustainable for Japan so will come back down with a bang.
In the meantime I'm still day trading up and down and catching some moves on this pair, but I'm starting to think the big one is a little way off yet, let's see...
Commentators and past experience suggests that the BoJ will intervene around 150 to 151.5 because they have to, due to the debt relationship with the USA, they're stuck between a rock and a hard place.
We all know what happens when retailers think they know best...I'm starting to think that we'll push higher to 154 before the dump.
I think the current global conflict will help the USD get there, but that level will be unsustainable for Japan so will come back down with a bang.
In the meantime I'm still day trading up and down and catching some moves on this pair, but I'm starting to think the big one is a little way off yet, let's see...
