UJ Long after correction
As the chart shows, we can see that a strong Daily trend line has been broken today which confluences with the Monthly Pivot and various Monthly S/R. I would expect price to correct itself down to an area near the Pivot and the TL for a simple re-test.
We are seeing a lot of strength in the USD and a lot of effort by the BoJ done to weaken the Yen (Let's cut them some slack) through their new framework. Assuming we have the NFP results on Friday, this trade could see itself completed if data coming out between Wednesday and Friday came out with a negative deviation from expected values and have the NFP come out with a higher than expected number (Of course, Employment is the focus as it was concisely and straightforwardly advised by the FED).
Plan the trade, trade the plan.
Trade a strong currency against a weak one.
Be patient and disciplined, wait for the price to come to you, or do not trade, re-evaluate.
We are seeing a lot of strength in the USD and a lot of effort by the BoJ done to weaken the Yen (Let's cut them some slack) through their new framework. Assuming we have the NFP results on Friday, this trade could see itself completed if data coming out between Wednesday and Friday came out with a negative deviation from expected values and have the NFP come out with a higher than expected number (Of course, Employment is the focus as it was concisely and straightforwardly advised by the FED).
Plan the trade, trade the plan.
Trade a strong currency against a weak one.
Be patient and disciplined, wait for the price to come to you, or do not trade, re-evaluate.
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