USDJPY moves higher but the crowds are silent
The USDJPY bounce off a key level in trading today and moved higher.
One follower of FXL wonders why the retail traders are not talking about the pair anymore, and he wonders why?
The answer probably has to do with what happened in the past. The USDJPY had real good support at the 111.00 level at the beginning of the month. The price fell below the level and moved down 330 pips in 2 trading days. Retail traders likely got burnt. They got hurt. What happens when that happens? They clam up. They stop talking. They don't care anymore.
We as retail traders have to put the losses behind us and look ahead. There always is another trade. Today an opportunity arose. Did you see it?
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