USDJPY Enjoy the SilenceEveryone is wondering: "How long is this trend going to last?" Well, I have a rule: "Keep beating the line that works until... it beats you". So I still have a bullish bias about this market looking to enter again as price comes closer to the bull trend line. USDJPY has been one of the strongest markets since the end of October and it is so at the moment (in terms of trend, by my method), even a bearish pitchfork can't hold the corrective price action well enough. Momentum seems to be slowly turning in favour of this pair. On the other hand, however, volatility has started to shrink, which may be auguring a deeper correction. Quiet price action is often followed by volatile moves. A bunch of important news events coming today. So, caution requisite.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
