[EDU]What has happened to USDJPY?More downside ?Here's my Plan

Hello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.

In short, here are some key takeaways from the news on Thursday from the BOJ:
asia.nikkei.com/Econ...ints-at-policy-shift

- The JPY strengthened by over 5 yen against the dollar in response to comments by Bank of Japan Governor Kazuo Ueda hinting at a potential exit from the bank's negative interest rate policy.

- BOJ Deputy Gov. Ryozo Himino's statement that exiting the negative-rate policy would have limited impact fueled speculation of a policy shift, contributing to yen appreciation.

- Market briefly hit $141 then settled at $143.

- The BOJ is set to hold its final policy meeting of the year on Dec. 18 and Dec. 19. Speculation grows about potential modifications to policy, including ending negative interest rates or adjusting the yield curve control policy.

My thoughts:

From the pointers above, it is obvious what has led to the sudden strong buying of the JPY (USDJPY goes down).

Firstly, ever since Japan's stance on continuing the monetary easing in Japan as compared to other major countries it can be obvious from Chart that JPY has depreciated greatly.
Now that there is hint of removing this easing, JPY spiked up sharply.

From this event, we can also witness that how a 'few words' from key stakeholders in the Forex market can led to huge volatility in the Forex markets. If you have short positions, most likely you got profits, what if you are on LONG and without stoploss? So, always manage your position, put stoploss!

Moving forward:

I feel this effect will be in play till BOJ's last meeting on 18-19 Dec.
So from now till then, I would be looking to go short on USDJPY.

Looking at the charts (refer to charts):
Weekly = Potential double top forming
Daily and H4 = Trendline broke with Lower Lows and Lower highs. On H4,I am watching the blue zone for turning points.,namely 145 and 146 levels.

Are after 18-19Dec, let's see what speech will be delivered and plan our trade accordingly from there.

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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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Trade closed: target reached:

nicely played out!