USD/JPY Losing Yield Support

The USD/JPY rally has been driven by sharp increase in US interest rates and in particular is very sensitve to 10 year movements.

What has happened since the FED rate hike is a high in yields has been put in short term and we are consolidating lower, this has not yet jumped across meaningfully to the USD/JPY which is rallying on Momentum and made fresh highs 136.99 before easing back 136.55 as we go into the Asian open on the 30th.

Counter trend trading is tough so make sure stops tight and with selloffs they can be quick and then sharp bounce back with trend.

This means putting take profits in is more important that normal in these sort of trades.

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