After FOMC announcement, USDJPY pair rallied up, and hovering above the cloud.
In fact, the moment after FOMC announcement, this pair dropped, followed by a huge rally. But the price was actually supported by the bottom of the cloud.
Now, today’s candle is hovering above the cloud. So as long as it is above the cloud, I stay Bullish.
For Buy Zones, I would like to propose the usual Fib38.2-61.8%. Additionally, I would like to propose Fib78.6% which is Daily Ichimoku Tenkan Line, which could also serve as Support.
There will be BOJ’s announcement tomorrow. So it may be interesting to have Long position today, and move the stop to Even…
YJ Baik – Forex.Today @ Tokyo