YEN continues to be stronger.
USDJPY, EURJPY & GBPJPY have touched Monthly Reversal Pivots already (MM1 or MS2).
What can we do now?
If you want to swing, it is too late to short. But can you buy now? I don’t think so.
Thus all you can do with YEN pairs is
a) to scalp
b) wait until
b-1) the price comes up to the next sell zone
b-2) Reversal price action
As the next sell zone, I would like to suggest
A) from Daily 5EMA, or
B) from Daily 21EMA, or
C) riding H4 21EMA
Sorry, but nothing I can say about YEN pairs now.
You may want to look for other non-Yen pairs for the better trades now.
I really feel Kuroda is the only guy who can change this down trend.
YJ Baik – Forex.Today @ Tokyo