Sorry but I’ve got no idea what to do in USD/JPY. 90.55 was the former s/t pivot which was breached on Friday night and the stops above 90.70 were then triggered. One would have thought that it was then safe to go long but no, the market then fell 100 pips in a few hours. Now we’re back towards 90.40 again and I’ve got no clue which way this pair will go in the short term. From a more medium term perspective, I think USD/JPY will eventually break onto a slightly higher plane with levels back above 100 looking achievable. But there are much better trades out there.
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