Yesterday, Japanese Yen became really really strong, and all Yen pairs just tank, as you all know.
Here, I would like to review the chart and analyze the big picture, with Ichimoku Daily charts.
One amazing thing is… EURJPY pair has survived this crisis, while all other pairs just dropped.
The candles are still hovering above Clouds, and all other lines are just showing Strong BUY sign. Yes, this pair is “3 BIG BUY signs”.
However, all other pairs turned as “3 BIG SELL signs”, as shown below.
Therefore, I will look for Short opportunities with these pairs for a while.
For GBPJPY and USDJPY, the candles just dropped from the Clouds. When the candle comes back up to the lower boundaries of the Clouds, watch out. That may be a perfect sell zone. I will post the each trade separately before that happens.
YJ Baik – Forex.Today @ Tokyo