RINSE & REPEAT
sqa said:The "smart money" beat you to that trade. It setup on Dec 26th when USD-JPY decoupled from the USDX trend. (Note the lack of comparative trend Highs) But 115 to 116 is being defended. The Bank of Japan isn't increasing its exposure (more than it's doing monthly, already), but it's been clear for a bit that they'll keep it elevated pretty far. (Last year they were defending 100 to 101 really heavy, that's part of why so many were Long)
But what better way to defend 100 than to make 105-110 seem cheap.
monthly order blocks: