UsdJpy breaks 125 - not coming down again
Usd/Jpy has made its intentions clear, I believe
Breaking 125 after steep retracement indicates that traders believe the intended rate hike is coming in September
The pair is currently in a bullish channel, and is coming down to retest previous highs
I will see if lower channel support holds, or the pair will bounce
Then I will go long there - just below 125, with a SL below the lower channel support,
a matter of a mere 20 pips or so
The TP will be the next move towards the upper band of the channel, probably around 125.50
Breaking 125 after steep retracement indicates that traders believe the intended rate hike is coming in September
The pair is currently in a bullish channel, and is coming down to retest previous highs
I will see if lower channel support holds, or the pair will bounce
Then I will go long there - just below 125, with a SL below the lower channel support,
a matter of a mere 20 pips or so
The TP will be the next move towards the upper band of the channel, probably around 125.50
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