@ganeshmurthy81 on USDJPY | PriceONN Community
G
man this USDJPY is giving me insomnia. Saw a quick clip on some forex channel earlier, guy was talking about how the BoJ is basically printing money and that should be sending JPY lower, but the charts are just stuck. He said something about this sideways chop being a trap before a big move. I think he called it a 'bear trap' or something. Doesn't look like it though, feels heavy.
Replies
G
Oh and he also said that the weak JPY fundamentals means we could see a massive spike up if resistance breaks. That's what I'm watching for.
Yeah @ganeshmurthy81, that sideways chop is brutal. I saw that same thing about the BoJ's stance – it screams lower JPY long-term. The markets are just being tricky right now, trying to shake out weak hands. That 'big move' the guy mentioned? I bet it's to the upside. We're just building energy for another run. If we clear that resistance, especially with the dollar showing some life, it's gonna fly. Don't listen to the doubters, just be ready to YOLO in when it breaks!