Due to the nature of the support and resistance lines, should the US dollar move up or down from these two levels, this will have important long-term implications for the US dollar. My bias is towards the upside.
Bounce up from 200 day moving average (it's still upwards trend) +
Fall back within bollinger band +
Bounce up off lower support structure +
Attractiveness of US assets
I'd look for an entry when the MACD plateus or turns up with crossover.
The USDJPY has fallen 9 days in a row, the longest falling stretch since 2011. I think that a retracement is well overdue and the last line of support before the next target will provide the excuse to move up.
I see USDJPY drops tempered by the US raising rates, possibly in April.
Stock Trading rule no. 1.
Always follow the trend because the trend is your friend (or your worst enemy).
If you would have bought and held this stock at 90% of the points since mid November, you would have lost.
You were very lucky the stock went up yesterday. There is a very, very, very, very high chance you have not picked the bottom and that the stock will...