Analysing Forex from The Market side & perspective.
A beautiful movement of USDJPY just before last week closing hours where after it went down to stop out The Buyers at 107.44 at Asia trading session, It went back up quickly with only one big bullish candle of 60 pips at New York trading session. This move stopped out so many buyer positions at so called support level at high trading volumes. This is how The Market works. Stacking trader positions at certain price levels - stop them out - and move on. Today, we only have accumulated seller positions at 107.90 that might be stopped out too anytime soon.
A beautiful movement of USDJPY just before last week closing hours where after it went down to stop out The Buyers at 107.44 at Asia trading session, It went back up quickly with only one big bullish candle of 60 pips at New York trading session. This move stopped out so many buyer positions at so called support level at high trading volumes. This is how The Market works. Stacking trader positions at certain price levels - stop them out - and move on. Today, we only have accumulated seller positions at 107.90 that might be stopped out too anytime soon.
