USDJPY market analysis

11 thg 8

I currently have a bearish bias on USDJPY. DXY has confirmed its bearishness and JPY made a historic decision to raise their interest rates. These two factors are my primary reasons for supporting bearish price action on USDJPY going forward. That being said I see one more bullish push higher on USDJPY up into the red box shown on the chart. Once we reach into that box I see us being able to sell lower down all the way to 141.500 - 140.000 levels. 150.000 - 140.000 is 1000 pips of price action. It should be an exciting few weeks going forward