Though I expect a nice dump for many of the JPY pairs maybe this week, I would not be shocked to see a bit of upside left in this pair ... and a few other JPY pairs.
They recovered well from their tiny pullbacks last week. This one as a couple of nice wicks. One is 76 pips and the other one 44 so there is some buying pressure. I would not be surprised to see a small drop again to the green pivot for one more small drop to the green pivot before a couple of days up.
I am interested if it drops to the green pivot it visited last week (for a long) or if it gets close to my resistance (for a short.) I am taking a pass for now. It is Sunday and it is an easy market to shake. My guitar is looking at me and reminding me it needs some TLC...
I am cool if I miss a monster pop today. The market ain't going anywhere. I will do my best to catch those JPY drops but in the end I will only trade a couple JPY of pairs for risk management purposes.
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