I posted this chart a while ago, & it seems that USDJPY has started to fall very significantly...
When USDJPY was at the 117 price level the time, I was warned that if it should break the 116 level; then it would open the way to a very steep & nasty fall (to a bottomless pit)... Which has happened...
Now it has went on to broke a very significant support (at a consolidation area around the 111.470 price level) (& it has starting a new rally downwards ever-since then - a very impulsive looking movement/wave of sort - look at the 4h chart time-frame to see what has basically happened)...
Now this rally could go on (because it looks very strong; even on a lower time-frame chart such as the 1-hour chart)...
The psychology of the market right now & ever-since is that the people are all buying the Japanese Yen...; When the BOJ weakened the Yen; then the market/people became even more excited & brought the Yen (like when ever there is a significant drop/plunge in the Yen; then it becomes a value buy!)... Would the BOJ weaken the Yen again (or will they decide not to do it again because of certain reasons)...??
Also how about the USD, is it going to start getting even weaker, or will it start strengthening again in the near future...?
When USDJPY was at the 117 price level the time, I was warned that if it should break the 116 level; then it would open the way to a very steep & nasty fall (to a bottomless pit)... Which has happened...
Now it has went on to broke a very significant support (at a consolidation area around the 111.470 price level) (& it has starting a new rally downwards ever-since then - a very impulsive looking movement/wave of sort - look at the 4h chart time-frame to see what has basically happened)...
Now this rally could go on (because it looks very strong; even on a lower time-frame chart such as the 1-hour chart)...
The psychology of the market right now & ever-since is that the people are all buying the Japanese Yen...; When the BOJ weakened the Yen; then the market/people became even more excited & brought the Yen (like when ever there is a significant drop/plunge in the Yen; then it becomes a value buy!)... Would the BOJ weaken the Yen again (or will they decide not to do it again because of certain reasons)...??
Also how about the USD, is it going to start getting even weaker, or will it start strengthening again in the near future...?
