Long Japanese Yen?!
The Japanese Yen is showing strength. I expect one of these pairs (NZD/JPY, AUD/JPY, EUR/JPY, GBP/JPY) to reach its September low as the first target. USD/JPY, however, is too far from that level, so I wouldn't consider entering a trade on that pair.
There is a possibility of a retracement, which is why I’ve split the risk across different pairs in case one of them retraces significantly
There is a possibility of a retracement, which is why I’ve split the risk across different pairs in case one of them retraces significantly
Trade closed manually
Note
The overall structure is still bearish, and all of them have reached a key point that will determine whether we continue higher or start pushing lower. I'll keep an eye on it and share the analysis again if necessary.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.