“Reading the tape” in the USDJPY.

In the old days stock traders is to “read the tape”. They literally read the tickertape of the trades that were going through live and being recorded. In other words they were looking at the actual price action and making judgments as far as supply and demand from traders.

Modern traders can look at a chart and do the same thing.

In this video I take a look at the price action in the USDJPY today and explain the technical “whys” and “what nexts” for the pair.

This article was written by Greg Michalowski at www.forexlive.com. Source