DislikedMy attention has been on this pair since we have returned to the extremely important 80 level.
I just wanted to share some numbers and ideas for trading the UJ at this level.
88.67 to 80.00
84.22 to 80.00
80.67 to 80.00
Range Last 6 Sessions: 79.67 to 81.00 = 133 pips
81.00/81.27/81.46 Strong S & R area
I have been very long yen for a very long time. I am still holding shorts...Ignored
thanks for your analyses and congrats for holding shorts from 100, it's always a wet dream of me sitting out large trends, but never had the pleasure....
Although I agree with you that the technical picture is not very bright atm I wonder seeing the fundamentals and price-action over last months if this is the time to position/hold large short positions.
CBOJ is not likely to accept levels far below 80 imo.
So contrary to your long term short position all we can try on shorts are short term trades (scalp) actions which at current levels in historic perspective are too risky for me.
I think (might be wrong) that recent PA indicates that a (last) shake out of longs is likely, at what level though 79-76 I let market tell.
But then who am I talking to a trader who can sit out shorts from 100, great job!!!!
Don't be a hero. Don't have an ego. Always question yourself