Hi,
Now it is a BOJ time - the time to deliver ( it is exactly what weekly USDJPY chart is saying :) )
When someone is trying to tell me something and I do have a problem to believe him/her I like to check it by myself...
Almost everywhere we can hear that BOJ will NOT deliver and JPY will be stronger...etc.
Please check the weekly USDJPY charts below ( both are the same but one is giving a closer look ) and correct me if I'm wrong but they are trying to foolish us as much as they can.
Ok, what's my point ?
As you can clearly see the USDJPY is testing broken/falling trendline ( first chart ) and also bulls are very close to leave weekly falling channel ( second chart )... so in my view it is not bearish, at least not now...
And again on the contrary to the rest, I think BOJ will do enough to ensure higher prices but...I'm not that imprudent and definitely not going to trade it blindly.
Feel free to heck the notes on the second chart what and when will invalidate the bullish scenario ( in short: closing back under the TL + failure when the bulls will try again to move above ).
Good Luck!
USDJPY weekly:
USDJPY weekly:
Please let us know should you have any additional questions or you would like to discuss other crosses as well. We are here to help you, just contact us at: landoftradingATgmailDOTcom.
Happy Trading
Mr Price Action
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