Short

$USDJPY Carry trade unwind to continue? $131-108 targets

looks like it's set to fall further here.

Equities took a hit when USDJPY went from 152 to 142. Now you can see that price rallied back up into resistance at 148, rejected it and looks set to fall more unless price can recover that 148 resistance.

I could see another move down into that 131 level, however, there's a possibility that price can fall much more than that.

I could potentially see a move all the way down to 115 -108 before price finds support. Those levels would be a successful retest of the bottoming structure price broke out from. After those levels get tested, then I think USDJPY will enter a long-term bull market.

Let's see how this plays out over the coming months.

Note

And there goes the Yen again...

Note

Looking like price put it a short term bottom. Potential that price goes up to the upper resistance or a little above 155 level.

Note

Choppy price action, but looking like we're going to resume the downtrend instead of getting a bounce.

benjihyam

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