USD/JPY – break below 100 would be a challenge for BOJ
With USD/JPY increasingly looking heavy, the decline to 100.00 appears likely. A daily close below 100.00 would be monumental and open doors for 98.00 levels.
Wilson Leung, from Trendsetter FX was on our Finance show today presenting his view on USD/JPY pair. The segment could be found here - www.youtube.com/watch?v=vIEkE4nL...
Key points
Roller coaster move in USD/JPY over the last few days
Bearish invalidation seen only above 102.66
On a larger scheme of things, bearish invalidation seen above 105.50 area
Remains in favor of selling the rallies in USD/JPY
Pull back in equities is likely to be a catalyst for USD/JPY sell-off
Tomorrow’s US CPI data is important
Below 100.00, BOJ would be forced to step up its rhetoric
Wilson Leung, from Trendsetter FX was on our Finance show today presenting his view on USD/JPY pair. The segment could be found here - www.youtube.com/watch?v=vIEkE4nL...
Key points
Roller coaster move in USD/JPY over the last few days
Bearish invalidation seen only above 102.66
On a larger scheme of things, bearish invalidation seen above 105.50 area
Remains in favor of selling the rallies in USD/JPY
Pull back in equities is likely to be a catalyst for USD/JPY sell-off
Tomorrow’s US CPI data is important
Below 100.00, BOJ would be forced to step up its rhetoric
