USDJPY Market Outlook | Daily Forex Market Breakdown
USDJPY
Big movement to the downside with USDJPY which I was anticipating. I didn’t want to take a short unless we saw a clean rejection off 112 since we were slow close, but instead resistance held strong and USDJPY just rolled over to the downside. Taking this short would have been gambling. You have to keep in mind that we are not experiencing normal market movements so we need to remain extra cautious.
Big movement to the downside with USDJPY which I was anticipating. I didn’t want to take a short unless we saw a clean rejection off 112 since we were slow close, but instead resistance held strong and USDJPY just rolled over to the downside. Taking this short would have been gambling. You have to keep in mind that we are not experiencing normal market movements so we need to remain extra cautious.
