USD/JPY is at a Key area.....
Whether you are a bull or a bear in stocks you should be looking at this pair as it is a relative reflection of the cash flow in the markets these days with the just about every central bank pumping money into their systems like there is no tomorrow.
The USD/YEN is at a key level right now which is the 101.10 area and a key Fib. I suspect that we are at least getting close to a pull back area where the pair stages a rally with stocks. I am long in this area with a lose stop. If you are a position trader like myself then this is the area that you may wish to buy again into the market to position yourself for an up move in the currency pair as it moves ever closer to the major trend line.
I am not one to try to time bottoms or tops but it seems that it would be a place to put in a market order.
See the chart to see what I mean.
The USD/YEN is at a key level right now which is the 101.10 area and a key Fib. I suspect that we are at least getting close to a pull back area where the pair stages a rally with stocks. I am long in this area with a lose stop. If you are a position trader like myself then this is the area that you may wish to buy again into the market to position yourself for an up move in the currency pair as it moves ever closer to the major trend line.
I am not one to try to time bottoms or tops but it seems that it would be a place to put in a market order.
See the chart to see what I mean.
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