Is the USD/JPY pair setting up for a new huge move?
Bonjour,
The JPY pairs have a reputation of being temperamental ... and rightfully so. Throughout my professional trading career, I've traded these pairs quite successfully but I'm also aware how quickly they move.
As I looked over the weekly charts of the USD/JPY today, I realized that we might just be seeing the start of yet another huge move to the upside. The Bank of Japan (and other institutional investors) haven't done much recently to defend their own currency. Especially when comparing it to the mighty USD.
Although the patterns aren't symmetrical or fall under the rules for classical chart pattern rules ... maybe and just maybe this might be the trade of 2016? If that's the case, are you ready for it?
À bientôt,
Maxmillian DuPont
(myfxlifestyle.com)
The JPY pairs have a reputation of being temperamental ... and rightfully so. Throughout my professional trading career, I've traded these pairs quite successfully but I'm also aware how quickly they move.
As I looked over the weekly charts of the USD/JPY today, I realized that we might just be seeing the start of yet another huge move to the upside. The Bank of Japan (and other institutional investors) haven't done much recently to defend their own currency. Especially when comparing it to the mighty USD.
Although the patterns aren't symmetrical or fall under the rules for classical chart pattern rules ... maybe and just maybe this might be the trade of 2016? If that's the case, are you ready for it?
À bientôt,
Maxmillian DuPont
(myfxlifestyle.com)
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