The USD/JPY rose today, forming a bullish candle that looks like we are holding the 80 level, which is absolutely vital to keep the Yen from appreciating too much. The central banks are waiting below, and if the market goes too much lower – they will be noticing that move certainly. Because of this, buying is the only direction. We are long if today’s highs are broken. We are short under no circumstances at all.
Originally posted here
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