It looks like USD/JPY is running into some sizable offers, upside might be capped for the moment, the London and NY sessions should provide hints of a new bull move up, or yet another range trap.
To be honest, I think this is a strong move, but a move just within its 101-97 range so don’t expect anything spectacular.
I was thinking about placing a trade now in the options market, but I rather wait and see if it goes a little higher so I can sell the same PUTs as last week for higher premium. Even if we stall here or fade back, tomorrow evening looks to provide a better entry.
I will post my trades tomorrow when they have been completed, with some brief commentary.
To be honest, I think this is a strong move, but a move just within its 101-97 range so don’t expect anything spectacular.
I was thinking about placing a trade now in the options market, but I rather wait and see if it goes a little higher so I can sell the same PUTs as last week for higher premium. Even if we stall here or fade back, tomorrow evening looks to provide a better entry.
I will post my trades tomorrow when they have been completed, with some brief commentary.
anyway, as indicated in the below chart, PA is currently touching the trend line and i expect it to bounce at least to 98.8, so yeah i'm long 
