well 1.2150 / 1.2041 / 1.1875 should be in the range. Techwise I will place some longs at major demand for a reversal to maybe 1.27xxx , ECB going for QE, FED wanna hike rates next year.
All in all we moved 1.700 pips from hi/lo so far with 1x ~ 300 pip retrace. Fighting the trend at the mentioned numbers with longs will give me the necessary r:r to do so.
Personally I'm too late to place shorts for swing.
Worst case might offer an extension to 1.16400 next year. Anyway according to the weekly 1.2000 area does have the power to response, at least for some time.
USDJPY is at major supply, but I really dont see any chance that this pair gonna reverse soon. Anyway no spot to buy, and probably too early to sell.
Best,
J
All in all we moved 1.700 pips from hi/lo so far with 1x ~ 300 pip retrace. Fighting the trend at the mentioned numbers with longs will give me the necessary r:r to do so.
Personally I'm too late to place shorts for swing.
Worst case might offer an extension to 1.16400 next year. Anyway according to the weekly 1.2000 area does have the power to response, at least for some time.
USDJPY is at major supply, but I really dont see any chance that this pair gonna reverse soon. Anyway no spot to buy, and probably too early to sell.
Best,
J
Hero calls followed by margin calls...