FXWW News/Trade Ideas/USD/JPY

USD/JPY: Buying dips looks like safest play

I’m really not sure what to make of USD/JPY, the market is long but then the market does get it right occasionally! We saw some big flows overnight and fresh highs made above 100.25, so there seems little point in fighting the trend. I’d suggest a dip-buying strategy intraday, looking for levels near 100.00 as optimal entry points.

  1. Morning Sean, Well i’m with you that a dip is the best strategy at the moment. Yesterday after looking at the Nikkei Futures I knew it was heading to the 14500 range, and we made it there, at this point, I feel a bearish impulse coming on for the Nikkei, which means this pair should also go down. I could be completely Wrong and the Nikkei could just shoot way north and get past the 14600-14650 point today, but most likely, its doing for a dip and so is USD/JPY!

    My Question Sean is do you think we’ll go south of 100 again today?

  2. thank you thank you… 🙂 but its reading your posts for so long and reasoning out why you choose pivot points and resistance points that has made me a touch better at trading and picking my own points 🙂

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