YES has been getting so much stronger since the beginning of 2016.
There are many uncertainties on the market, and this condition doesn’t seem to be changed for a while.
On the other hand, Bank of Japan has been getting so much political pressure from Japanese government and politicians.
Thus personally I am really waiting for the next Kuroda Bazooka. The next BOJ Monetary meeting will be held on Jan 21st.
Until then, I will stay Bearish with all Yen pairs.
Looking through YEN cross pairs, the prices are well below 21EMA on ALL TIMEFRAMES – Daily, H4, H1.
Thus, the strategy should be simple…
- Sell from M15, 55EMA (Perhaps, it is too late to short from now)
- Sell from Hourly 21 EMA
- Sell from H4 21 EMA
We should continue to be Bear, until we see Bullish Price actions.
But if you are not in the Short trades now, please don’t jump in, or fell you are left alone.
If you wait, your entry will come to you eventually…
YJ Baik – Forex.Today @ Tokyo