The battle for 150 is unavoidable!
USDJPY continues to squeeze below 150. Given the buying and continued resilience we've seen every time we get a flush down on some intervention fears, it's clear the real resistance at 150 is psychological.
With this in mind I'm favouring a buy if we break and a further add if we hold. The only question is the volatility. We've seen some incredible moves, like the 280 pips on Oct 3rd, but other than options, there's no getting around it for traditional positions with a stop loss.
With this in mind I'm favouring a buy if we break and a further add if we hold. The only question is the volatility. We've seen some incredible moves, like the 280 pips on Oct 3rd, but other than options, there's no getting around it for traditional positions with a stop loss.