USD/JPY is the most politically sensitive currency pair among the majors. Japan is 40% export-oriented economy. Japanese officials will get involve to keep JPY from strengthening beyond desired levels when needed. Weaker JPY makes a nation's exports cheaper to foreigners.USD/JPY can be either active directionally or consolidating. As such, we like to approach USD/JPY on a hit and run basis.
4 ways to spot for trading opportunities :
- USD/JPY tends to respect the technical levels with less false breakout.
- USD/JPY price actions are usually highly directional on breaks of technical support and resistant.
- Spike reversals from technical levels are relatively common.
- Orders frequently define intraday highs and lows and reversal points.
- Japanese candlesticks
Can you spot more ?
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