Quote Originally Posted by ;
quote I am just aiming to grab technical pullback. It'd gone to nearly 200% extension and there are a sort of pullbacks. There was range which I find just ideal. However, to be fair - I overlooked you will find news and because of that I do slightly regret taking that trade - I could have already been stepped out.
I see, technicals are extremely strong, my point was that sometime the market go in full retard mode, and technical analysis are totally ignored during the whole full retard time.

The big thing about the jpy pairs is that bank of japan have enlarged its qe several days ago, printing currently annually around 84 trillion yens (from approximately 50 previously), now that is a 30trillion yen gap, and the market is just pricing in this.
With this do not say that jpy pairs will continue going up of 200pips regular indefinitely, mmm I truly have no idea where the equilibrium price will be, but for now they will continue going up untill such point is reached, regardless of 161% 200% 261% extensions etc., anyway that is just how I view xxx/jpy pairs.

Let us be careful!