USDJPY: A New Crypto Pump Coin ð
'It looks like buyers are making a play and solidifying that break above 140.00. There is plenty of upside room to roam for the pair with the next key resistance region being closer to the psychological level near 145.00. As much as Japanese officials are trying to jawbone to slow down the pace of the yen decline, it is nothing more than a speed bump still at this stage.
With markets still sticking with the narrative of a more aggressive Fed and Treasury yields keeping the faith (10-year yields are up 4 bps to 3.23% today), the path of least resistance is still for a move higher in USD/JPY.'
- ForexLive Article
The USDJPY pump has been incredible to watch, with some referring to it as a crypto coin pump ð.
We have two options on how to trade it successfully:
1) We either wait for a pullback to sweep liquidity from the trendline to buy into the highs
OR
2) We wait for the highs to be taken to sell down into the trendline liquidity.
Those are my options, for now, we must sit on our hands because price is not in a desired location to trade.
ðThanks for your BOOSTS and supportð
ðŽSend your comments and questions below, I'll be glad to talk to youðŽ
With markets still sticking with the narrative of a more aggressive Fed and Treasury yields keeping the faith (10-year yields are up 4 bps to 3.23% today), the path of least resistance is still for a move higher in USD/JPY.'
- ForexLive Article
The USDJPY pump has been incredible to watch, with some referring to it as a crypto coin pump ð.
We have two options on how to trade it successfully:
1) We either wait for a pullback to sweep liquidity from the trendline to buy into the highs
OR
2) We wait for the highs to be taken to sell down into the trendline liquidity.
Those are my options, for now, we must sit on our hands because price is not in a desired location to trade.
ðThanks for your BOOSTS and supportð
ðŽSend your comments and questions below, I'll be glad to talk to youðŽ
