USD/JPY (PLEASE PULLBACK!) LONG
Fundas - With the NK statement on ceasing Nuclear programs over the weekend, the Yen lost strength and the Dollar continued its upside on Monday after a gap thru the weekend.
Tried to play both sides as my longer term bias was long. I had a short on with anticipation of a small pullback from the weekly resistance area 107.60-80. Didnt happen.
Techs: As with my previous USD/JPY long idea i still see this hitting 109.25- 110 area. Now with the upside clean break i will be looking for a buy in the 108.50-108.30 area (if this thing pulls back, i wont chase!!!) with a Stop under around 107.75 area. for upside to those targets and add in once momentum confirms.
Happy Trading
Tried to play both sides as my longer term bias was long. I had a short on with anticipation of a small pullback from the weekly resistance area 107.60-80. Didnt happen.
Techs: As with my previous USD/JPY long idea i still see this hitting 109.25- 110 area. Now with the upside clean break i will be looking for a buy in the 108.50-108.30 area (if this thing pulls back, i wont chase!!!) with a Stop under around 107.75 area. for upside to those targets and add in once momentum confirms.
Happy Trading
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