hello usdjpy bears. i think you are in deep trouble.usdjpy looks like it has found support on the 50% fib retracement on that huge rally since 19.06.2016! Even if you donot believe in Fibonacci levels (why?) this chart should cut your bearish stance on usdjpy by 90%.Support is shown by the three red crude lines {image}
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hmmmm...agree with you.. waiting for big moment. but who knows.xixixixixi
{quote} My opinion is that we are going to see at least a double bottom at 109 area (just like June) before we go back to 114. UJ has been adhering well to historical price movements the past couple months.
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yeah Im looking to start adding 1.0L long at 108.8, too close to botttom for me to add more shorts
{quote} I think this will be attacked and broken. The kraken might be greedy today.
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The kraken raised his greedy tentacles and ate. could go way down from here. BUT, it seems markets like to screw retail so I would not be surprised if they shook out all the people waiting to sell at 108.74 first then head back down. Im on out because I dont like friday trades and this feels like setup to hurt retail shorts. We will see.
We went past the 108.77 which was a previous daily low from 2 months ago, and as I type this we are back above this level. We are also very close to that daily trend line mentioned above, so hopefully bears will go and take a nap for a while because I just entered long hehe.
Also on the EUR/JPY we have the daily candle sitting on top of the 50MA, if that candle closes above today it may gather support for a continuation of the move upwards.
