It’s been difficult to trade the USDJPY in the last few months. Mostly because of the range medium term range, which has no clear S&R levels…
Or maybe it’s just me but I don’t like to short the USDJPY and you probably guessed why, because of the BOJ interventions.
But when it comes to look for long opportunities, I’m more than happy to trade it…
Let me show you this chart:
You see the bottom of the range is not that clear? But it doesn’t matter, because I don’t like to open shorts in the USDJPY
But what about the top of the range? The resistance level is as clear as the water.
So my plan for the USDJPY is as soon as it breaks the top of the range, I’ll start looking for long opportunities.
Have you been trading the USDJPY in the last few months? What do you think about my plan?
Let me know.