The floor gave way and crash, saw mid 83's today, almost to target, had started putting in a few longs looking hard at that 83 figure. Currently 2 wave retrace pulling back north, but expect another stab at the lows tonight.... as the market wants to find the pain threshold for the BOJ.
Imho, the daily trendline off the lows should be a trigger if breached.
It seems everyone wants to compare possible BOJ intervention with that of the Swiss earlier this year...... apples and oranges in my book, wouldn't be surprised to see some type of orchestrated intervention between several CB's if it happens..... make no mistake, it's their market, when things get unruly they will step in. And the BOJ is master of it.
Looking for another drop to load up.......
fwiw
Imho, the daily trendline off the lows should be a trigger if breached.
It seems everyone wants to compare possible BOJ intervention with that of the Swiss earlier this year...... apples and oranges in my book, wouldn't be surprised to see some type of orchestrated intervention between several CB's if it happens..... make no mistake, it's their market, when things get unruly they will step in. And the BOJ is master of it.
Looking for another drop to load up.......
fwiw