Trying to trade anything JPY is proving difficult as we experienced yesterday on EURJPY. The death of JPY just continues over and over.
I think the bull run will continue all the way into the key psychological level of 130 before we see any signs of buyers slowing down.
I won't set an order, I will set an alert because we are bound to see some manipulation around this key level.
Once the manipulation and play on price is complete around 130 THEN we may have the opportunity to join sellers.
Buyers got an easy breakout of the 'trend-line' which leads me to think liquidity and trapped sellers remain at the low.
This will be the target IF we locate a sell.
I think the bull run will continue all the way into the key psychological level of 130 before we see any signs of buyers slowing down.
I won't set an order, I will set an alert because we are bound to see some manipulation around this key level.
Once the manipulation and play on price is complete around 130 THEN we may have the opportunity to join sellers.
Buyers got an easy breakout of the 'trend-line' which leads me to think liquidity and trapped sellers remain at the low.
This will be the target IF we locate a sell.
Comment:
We did not sell this due to NFP.
