USDJPY is now trading at levels not seen in over 6 months after a prolonged range-bound period. This thread is to cover all of the Yen pairs as volatility returns following easing by the Bank of Japan. The first chart shows USDJPY weekly time frame and price is now at the 61.8% Fib ret of the last swing lower. Are we to have another week of unidirectional price action or is it time for a corrective move lower?
I will initially be looking for a move back down to the 80.00 area before considering any USDJPY longs at this stage. This is of course subject to change if the right setup comes along over the following trading sessions.
I will initially be looking for a move back down to the 80.00 area before considering any USDJPY longs at this stage. This is of course subject to change if the right setup comes along over the following trading sessions.