USDJPY - 120.30 critical

FX:USDJPY   U.S. Dollar / Japanese Yen
492 9 8
Not trivial.

If breaks 120.30, it could reach 122 rather quickly.

if 120.30 retains, a failure of the channel up would probably bring to 117 later this months.

Related Ideas

Simple yet effective, Nice.
Agreed, I'm watching this level, it'll be a nice long if it breaks above it.
YaKa PRO IvanLabrie
possibly... but i think the more complexe scenario may develop.
+1 Reply
Note: equities went up today on a bad ISM.
Which means that the equity folks think that a bad number is going to provide them with a longer period of low rates (if i read it correctly)...
+ if you believe equities are a short here (nikkei on resistance).. it is difficult to imagine usdjpy climbing 2 figures without nikkei reacting.

BUT i dont have a strong opinion... forced to risk 40pip, i would try the short on the line
+1 Reply
I wouldn't take a long here either, just watching to enter short...if possible.
Well, my time target for a long to 120.85 expires today, which is a bearish signal if not reached (time at mode).
YaKa PRO IvanLabrie
almost zero risk to reach today sir.
+1 Reply
YaKa PRO IvanLabrie
+ if it reaches 120.70, the remaining move before reaching resistance is only 130pip...
difficult... I think the guy who wants to take long is better off doing it here and playing through resist..
We will see plenty of longs, retail side...waiting for NFP.
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