Hey traders,
I am looking for a long on USD.JPY, my reasons:
Technically, we are in a range, but the last bullish moved looked rather impulsive and it looks like the bulls are trying to base for a push above the range.
Fundamentally, it looks like yen is breaking down, looking at EUR.JPY, and GBP.JPY, they are all losing ground. In addition BOJ, is always trying to weaken the yen.
So looking at the current attempt to base, it looks like bulls are losing ground so I am looking at one S/R level to get long, with a stop loss right under the base, looking to hold this one to see if it can break through.
I dont think NFP matters to much given the FOMC dovish comments we can really only go up in sentiment for the US dollar.
I am looking for a long on USD.JPY, my reasons:
Technically, we are in a range, but the last bullish moved looked rather impulsive and it looks like the bulls are trying to base for a push above the range.
Fundamentally, it looks like yen is breaking down, looking at EUR.JPY, and GBP.JPY, they are all losing ground. In addition BOJ, is always trying to weaken the yen.
So looking at the current attempt to base, it looks like bulls are losing ground so I am looking at one S/R level to get long, with a stop loss right under the base, looking to hold this one to see if it can break through.
I dont think NFP matters to much given the FOMC dovish comments we can really only go up in sentiment for the US dollar.
