USD/JPY: Showing no sign of easing whatsoever
The vertical uptrend in USD/JPY is showing no signs of wanting to consolidate and fresh highs are being made with ease. Many good commentators saw this coming (not me I’m afraid 🙁 ) and levels near 118 look feasible before we get totally overstretched.
I continue to chase this market higher with my small short position; my intraday trading has been decent but this has only had the effect of keeping my losses in check, not reducing them 🙁
For now, I’m looking to cover on any dips towards 113.00 and will try fading any ‘silly’ intraday spikes but only for a quick 70/80 pips.