Dollar/yen hits its highest level since the start of the year and plunges to the 113 yen range
I closed all profits on my USD/JPY long that I had held for one day a little after 1 pm.
At that moment I couldn't say for sure, but around 1 o'clock the EUR/USD spiked lower and the dollar index formed a pin bar at a level that happened to be the 0.5 retracement (half swing), so I considered a move of about 150 pips up to 0.618 and took profits in full.
If I had held it from the 112 yen area, perhaps things would have been different, but since it started from 113.9 on the USD/JPY chart, I exited.
As you can see from the subsequent price action, the daily candle engulfed and then entered the 113 yen zone with a slight rebound.
Today I would like to write about the outlook going forward and about the euro.
× ![]()