A truckload of poor data on the economic calender has caused Usd/Jpy to break 101.5 support
This crucial support level break will eventually lead the pair down to 98 if it is not taken back soon
All the Yen crosses are hurting, too, and Gbp/Jpy is also at crucial support of 165.5,
a reason to buy one would say...
I am long Gbp/Jpy at the moment, but the signs don't look good,
support has been broken to the downside here as well
Nevertheless, there will be bulls around trying to buy Usd/Jpy as low as possible,
for an turn up again that could follow this fast retreat
All this hectic selling is just based on poor data today, and there has been more the last two weeks,
so it can hardly last -- I'm guessing Usd/Jpy should be up above 101.5 soon again,
and the crosses, like Gbp/Jpy should follow any move up,
we will see
gl all
This crucial support level break will eventually lead the pair down to 98 if it is not taken back soon
All the Yen crosses are hurting, too, and Gbp/Jpy is also at crucial support of 165.5,
a reason to buy one would say...
I am long Gbp/Jpy at the moment, but the signs don't look good,
support has been broken to the downside here as well
Nevertheless, there will be bulls around trying to buy Usd/Jpy as low as possible,
for an turn up again that could follow this fast retreat
All this hectic selling is just based on poor data today, and there has been more the last two weeks,
so it can hardly last -- I'm guessing Usd/Jpy should be up above 101.5 soon again,
and the crosses, like Gbp/Jpy should follow any move up,
we will see
gl all