If you think (like me) that there are only two trades in USD/JPY (long or on the sidelines) then the question isn’t whether to buy the dip, it’s ‘where to buy the dip’.
After the BOJ decision I noted that from Oct 2012 to Feb 2013 in the 1700 pip rally in the pair there was only one dip larger than 150 pips and none larger than 200 pips.
So far that’s been a good guideline because people waiting for large dips have missed out. Here are the high-to-low dips since the BOJ decision.
BTD baby!
