Getting ready to trade the USDJPY
Are you afraid of BOJ interventions? You should, I’m afraid too, but only if I’m going short, because every BOJ intervention makes the USDJPY skyrocket… But what if I’m looking for long opportunities? Well, if there is an intervention, it will be on the direction of my trade, it will actually help my trade hit my TP order faster :)
Anyway, The USDJPY just broke the top of the ST range, meaning it is already in a bullish market condition:
It’s late on the week for my taste though, I don’t want to get stuck in a trade over the weekend when the market is so close to my entry level, I’d rather wait for next Monday to build my positions here.
Have a great weekend!