Kiwi Yen Bounced

I recieved two emails asking how I knew we were going to bounce on the NZDJPY as per my post on Monday. I actually never know what we are going to do, I only take educated guesses based on my analysis and what my mechanical trading systems tell me. It is true looking at the chart above I do not have a buy signal on this trade for Monday but based on experience, candles and an educated guess I thought we may have consolidation or bounce and as you can see it has done a nice bounce so far.

Those that took the retracement long (and I know one of you that has) will be around 300-400 pips in profit. Lock in profits now. Look at the blue moving average as the high point resistance.

Good luck today. I will post tomorrow morning.