DislikedBe careful, might only fall a few pips... It's been following a very tight channel up. And only bounced off of the bottom once. I'd expect another bounce off the bottom before it falls through, if it ever falls through...Ignored
Even if I only make 3 pips on this trade, 3 is better than ZERO.
At this point, however, I think there is about a 50/50 chance that USD/JPY could go either way. Technically, it is "retracing" right now, and so -- at least in theory -- it should go down, but the trend is so strong that it could also still go up.
With that being said, stochastic levels are approaching the OVERBOUGHT range on almost all time frames, and that means we could -- alternatively -- be in for a VERY FAST, and VERY SHARP retracement... at least once the last bullish thrust is completed.
The way I see it, those are the two options right now.
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