$JPY: Govt has confirmed nuclear reactor meltdown. Yen reaction at trading open may be violent, direction unclear… That ‘s just hit my news headline as I stared into my desktop this morning sunday. I tell my self, thank god I had not hold any position in the Yen pairs. This surely see some SR hit and rejected violently.
Let me see how this pair at USDJPY and GBPJPY.
USDJPY- technically, this pair has hit its support price of 82.00. The small range nearest to that is 81.60. I would like to see this pair rejected to that price. I am not trading it , but I will monitor it. If it rejected 81 and 81.60, this pair may well go upwards towards 83.00. If it fails to reject and broke below that, it may then rejected it self towards 81.00 or even 80.00, depending how weak and strong will the currency be affectred by this nuclear meltdown.
GBPJPY, I am looking into seeing this pair hit that 130.00 and rejected violently. But if the possible weakness came sooner, it may just reject it self from 131.00 . Where the exit will be, I am picking it off where last week it most likely the 134.00 price.