Dear Yen Carry Traders, your season has come!
As you can see in Daily Ichimoku charts, NZDJPY is already above the cloud. Also AUDJPY is approaching to the top of the cloud. So we can expect AUDJPY will soon go above the cloud.
Expecting further QE from Bank of Japan at the end of Oct, it makes sense to start building up the long positions on these pairs and get ready!
As for today’s entry, I will recommend the following buy zones.
However, today is Friday. We can expect some traders take profit for the weekend.
So it won’t be too late if you start building the positions next week.
Please be aware that next Monday is the national holiday in Japan. So all the institutions are closed.
USDJPY ? Don’t want to talk about it! Nothing new. Still within the range. So range bound play!
YJ Baik – Forex.Today @ Tokyo