Buy USD/JPY

[mig928]

Now is a good time to get back in. Buy anytime. Stop anywhere below 117.50. There are cross related trades so the up move may be sluggish. I think it is safe to say that USDJPY will be going up for the rest of the week.

GL.

[rezo_s]

I dont know, my friend.
To me, it looks like a possible sell on rallies higher at the moment. But I recall how you first saw this pair as a possible buy, and therefore I may be wrong. We use different tecniques, so... you never know. Anyway, trading here (the pair) is very sluggish lately, and I prefer waiting for a breakthorugh recent range - in eather way it may be a good trade after the break is confirmed and not a fake one. I thought recent push to +119.50 was the opportunity for such a break, but it wasnt. Now - waiting. Right now its not exactly in a sell picture fot me and not a buy also.
Anyways, I wish you good luck, and wish you to be right on this one - just as you were last time (you're trading it, and I'm not, so...why not? ). Good Luck, my friend.

Rezo.

[rezo_s]

And I agree with you that move up may be capped with cross trading. Heavy buying of yen is ovserved across all currencies but usd.
Once again, good luck.

[mig928]

Thanks for the warning Rezo, I'll keep that in mind. Most likely we have different timeframes.

You may be right judging by the movement this hour. It tested 117.60 but was repelled. Now it's sitting at 117.80.

I can't wait and see what will happen next, it's time for me to get some sleep. I'll be surprised in the morning.

[rezo_s]

I think it will be a good surprise - its already 118.60-70, and in my charts its not a sell anymore. Once again - good call.