Hello Traders how are all of you doing today? I hope well.
We have a new trade plan that is here because of the Bank of Japan Intervention. It also lines up with Technical analysis. When you get Fundamental and Technical together that can be a profitable combination.
This strategy was taught in our trading room today by Michael Storm and I am personally acting upon this strategy.
The first part is that we now have a nice pull back on the Usd/Jpy from the highs just made a couple of days ago. The price is now sitting at a key support level. See the chart for explanation. So according to technical analysis it could be time to buy based on a pull back and support. Watch those levels though because they are important.
The Fundamental Part of the plan is that the Bank of Japan states that they will intervene if the Price starts to fall below 85. Read this article for confirmation of my idea. The price is there now so if it goes lower the BOJ could intervene again and that will cause the price to rise again. So we have some good reasons to buy here. I will be holding a small piece just in case the BOJ Intervenes.
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Winner’s Edge Trading, as seen on: