USDJPY PAVING THE WAY FOR THE NEXT LEG HIGHER
Updated
UsdJpy is in my opinion on a critical spot and todays dynamic turnaround is currently seen to be bullish.
The 112.50 area is important and could be a level where a bull move higher is beginning to form.
Fundamentally its a little bit cloudy, we have the important Trump speech infront of the congress, thats a potential risk, but it could also be the ignition for the move. So its a two edged sword.
I think in the shortterm (next 24h) the UsdJpy will be bid on dips toward 112.50. Topside will probably be capped around 113/113.20 awaiting further impulses.
+The US Bond yields had also some kind of a turnaround today from important levels. So this is also a small positive note for this idea.
I am looking to buy small flags (hourly, 30min timeframe) if they occure but also, i will close all my positions before trump starts speaking, and afterwards when the dust settles a bit i will be looking for value to enter depending on the market and analyst reaction.
Trade with care and with good risk management.
Blessings to you all.
The 112.50 area is important and could be a level where a bull move higher is beginning to form.
Fundamentally its a little bit cloudy, we have the important Trump speech infront of the congress, thats a potential risk, but it could also be the ignition for the move. So its a two edged sword.
I think in the shortterm (next 24h) the UsdJpy will be bid on dips toward 112.50. Topside will probably be capped around 113/113.20 awaiting further impulses.
+The US Bond yields had also some kind of a turnaround today from important levels. So this is also a small positive note for this idea.
I am looking to buy small flags (hourly, 30min timeframe) if they occure but also, i will close all my positions before trump starts speaking, and afterwards when the dust settles a bit i will be looking for value to enter depending on the market and analyst reaction.
Trade with care and with good risk management.
Blessings to you all.
Note
US 10Yr Yields also looking ready for a move higher.
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