As I had mentioned some week back, the pair was heavily overbought, and intervention made a large scale move lower touch 154.50 area from the lofty highs 160s. It addresses the issue of CB being active again, and one should not underestimate the power of BOJ.
Market still has appetite to SELL JPY and for that reason the strategy is as follows.
Strategy SELL @ 157.50-158.25 and place SL above 160.40 and take profit @ 152.75 for now.
Market still has appetite to SELL JPY and for that reason the strategy is as follows.
Strategy SELL @ 157.50-158.25 and place SL above 160.40 and take profit @ 152.75 for now.
