what direction? what target? what stop? size? entry(s)? do you need a longer chart? do you need sentiment? do you need indicator? do you need other instrument?
Id go with a 1x1 ratio chart , on massively longer time frames. Just to begin with. But that's just me, I'm a chartist, not a trader. I've seen jap moves worse than cotton, it can get very very unpretty in TA terms.
========= OTC; Depends on your timeframe/plan, & yes. Looks a lot like a 4 month downtrending SLV ,silver chart. For educational purposes only; most silver trends are going up[except4 month candles ].1 or 2 days worth of data, cant really figure much at all, with 1 or 2 days worth of data.
when the BoJ are purchasing / selling the Yen, my advice is to stay the hell out of the market. they announce their intentions of entering the markets but not sure if the time they do so is known in advance - don't follow the Yen so don't know I presume the spike was another BoJ intervention and have used a Daily to give some perspective on what the usdjpy had been doing, and it also illustrates the previous BoJ intervention and the reaction at that time the volume of the Yen futures contract on Aug 3 was 3 times the daily average but I don't have V info for the previous Mar 16 intervention since the price had risen again during the preceeding 4 months to the previous record H - L for usdjpy, it's not surprising the BoJ would intervene, but this time it's possible traders had begun Buying in anticipation of an intervention - see: 'The Bank Of Japan Is Coming!!! (Or, Most Likely, Not)' by Tyler Durden - 8/01/11 http://www.zerohedge.com/news/bank-japan-coming-or-most-likely-not and 'USDJPY Hits 79.98, BOJ Intervention Expected' by Tyler Durden - 03/16/11 http://www.zerohedge.com/article/usdjpy-hits-7998-boj-intervention-expected I'll revise my comment: advance warning of an intervention can mean a Very profitable trade OTCkrak: 1: the price has been declining/rising - spot/futures for Years http://www.barchart.com/chart.php?sym=J6U11&t=BAR&size=M&v=2&g=1&p=MN&d=X&qb=1&style=technical 2: in addition to the Fibonacci Retracement tool - illustrated - learn to use the Fibonacci Expansion tool 3: the last LL on the Daily 4: Huge - Bet The Bank 5: as low/high as you can Buy/Sell it 6: Of Course. All timeframes should be analyzed in addition to the chart tf being used to trade from 7: killer instinct 8: yes. statement from the BoJ they're going to intervene 9: trumpet to blow after closing the trade