New highs are in place. Shorts have been taken out and now price is pulling back. This scenario looks more than familiar as during summer these fake-outs were an everyday sight. However, summer is over and normal trading conditions are back which means that if we get a good NFP figure, USDJPY might go and take out 106.00 just like that.
Like always, trading the news is extremely risky and your guess is as good as mine. Hence, a smart play here would be to wait.
Comments
Sam0101
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Sorry is 103.5.
Sam0101
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Is USD going down to 0.835 before going new high again?