Price is now at an important support level. Break this support would mean price may go down further towards 100.00 mark (or maybe even lower), but I'd expect the BoJ to spring into an aggressive action via an intervention (something which they aren't shy of doing).
Personally I'm inclined for USDJPY to go long from this point, but I'm not so sure since it has smashed thru every previous support level like they weren't there. We'll see.
Comments, thoughts, criticisms accepted! Thank you :)
Personally I'm inclined for USDJPY to go long from this point, but I'm not so sure since it has smashed thru every previous support level like they weren't there. We'll see.
Comments, thoughts, criticisms accepted! Thank you :)
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