I keep getting enticed into this trade. I’m about 50/50 so far with about 6 YEN trades. This is a 4 hour chart and it sure does look nice except for the almost double top near my M4. The Govie purchasing by the BOJ is my concern. I thought this is done to deflate the economy by lowering the money supply but I could be wrong. I thought that is why the JPY has been strengthening. The bulls are fighting hard, I just hope it doesn’t break though my S1/M1 level or I’m out again.

H4 Chart with monthy pivots/support & resistance and a fib retrace.

Source: Skip Robinson

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