Every race of people is unique in it’s own way. They have different cultures, different habits, different opinions and different ways of doing things. There is no right or wrong way, just different ways.
The main Japanese markets will react differently to the main European markets for instance. Yes, I know we have global markets but there are still differences in the way markets trade and react. The Japanese rely heavily on Ichimoku analysis and candlestick charts when they analyse the spot JPY markets. This is why it’s important to understand both techniques so as to know what the Japanese market is looking at.
Currently the USD/JPY cloud (just above 97.50) is becoming ever narrower and prices are breaking above and below at will. This shows a high degree of uncertainty in the market. The bottom of the EUR/JPY cloud is between 130/131 and this should prove to be a good support level.
