USDJPY – Longs in play

We’ve been talking about the USDJPY and the BOJ interventions. Whenever the USDJPY is trading in a bearish market condition I hesitate about going short because of possible interventions, but when it is in a bullish market condition, if the BOJ intervenes, it will be in the direction of our trade. And that’s the case today, it is in a clear bullish market condition.

The Dollar-Yen is trading in a bullish market condition, last Friday it broke through an important resistance level and today it is trading above every important level in the short term charts:

I’d like to see how it behaves around the closes ST support level around 84.17, if I get something significant with upward pressure I’ll definitely go long.

Trade Safe!

Raul Lopez
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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .