Is It Time to Start Buying Yen?

I’m a position type trader who usually holds trades for a few weeks or even months.

So I’m asking: is it time to start buying Yen? Or maybe – is there still time to buy Yen?

Here’s a daily chart with the 10, 20, 50, 100, and 200 EMAs. Even the 200 EMA is has begun to ever so slightly turn down.

The weekly chart shows the USDJPY channel we’re in is about to break south.

So? Time to start buying yen? Has the carry trade game ended?

Hey Tess,

I may be going buying Yen against the Euro sometime soon. Maybe at the end of the week the opportunity will open up for me or perhaps early next week? We shall see… Ill be sure to tell you when I buy Yen :wink:

I may hold it for a week or two, not nearly as long as you will probably keep it :slight_smile:

Think ill Sell EUR and Buy JPY a 164.15, what do ya think Tess?