A few weeks ago I wrote about the USDJPY and how close it was to the medium term resistance level.
Back then, the market wasn’t able to break the resistance level, I guess the market just wasn’t ready yet.
But earlier this morning it broke the resistance level triggering a bullish condition:
As long as the USDJPY trades above 80.49 I’ll be looking for long opportunities.
Afraid of a BOJ intervention? If it intervenes it will push the market up, you’ll be long, so it will help you instead of hurt you. Also, the BOJ is not likely to intervene at these levels…
What do you think? Are you trading the USDJPY?
Let me know.