USD/JPY Is Crawling Closer to TP

Posted Monday, March 6, 2017 by
Skerdian Meta • 1 min read

Today the forex market has been dead quiet, but at least it´s making a move now in the evening and it seems to be moving in our direction.

USD/JPY is moving up, but it looks like the 104 level is scaring the buyers. The take profit for our forex signal in this pair is at 104.05 but if we can´t push above 104, we might as well close it manually around here.

By the way, you don´t have to wait for us to close your trades. If you feel the price might turn around and go against our position you can close your trade manually. Speaking of it, I think it would be safe to move stop loss at breakeven now.

Hopefully, we will reach TP soon

BOJ Masai (not the Kenyan tribe) was speaking a while ago and he said that the BOJ (Bank of Japan) will keep the highly accommodative financial conditions. That means that they will continue the QE (quantitative easing) programme and keep the low interest rates for s long as it takes.

This is supposed to sink the Yen and send USD/JPY surging, but it´s not. Well, we´re still pushing higher as I speak so I guess we don´t need him.   

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About the author

Skerdian Meta is our Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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