USDJPY GETTING CLOSE TO SERIOUS REVERSAL?? 2000 PIPs!!
Updated
As the Yen reaches the liquidity wick back in the month of October 2022, its time to pay attention to a possible change in stance from the aggressive longs into the first innings of the short idea down to BOJs target of 132 area. The recent Drops are likely not to be Interventions but large funds shaking our late longs and getting retail to chase the last drips of this pair to major highs. I have started closing out longs and have started nibbling at shorts. First one from the highs today. Will add if we go higher keeping some longs in place to hedge and will also add shorts if we start showing signs of weakness. BOJ very likely to defend up here as they have already spent a huge amount of money defending. A weaking dollar with this could open the floodgates for a really big move. Possibly around the 2000 pip region.
Trade active
We are now really pushing away from the area that was indicated on November 14th. I have now managed to get a fully sized swing position riding deep in profit and also trading it intraday with very simple methods of twapping off the 1 h emas mainly 8 EMA and 34 EMA. ANy advance higher i add to my swing position on a different account. Safe trading to you all.
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