There is opportunity for Dollar Yen longs to target 138.3 short term & 142.50 long term.
This position is still not mature to buy & hold to 142.5, because there is possibility for a second shoulder level (Right red arrow down).
It is possible to buy current levels with a protective hedge < 133.40 to target 138.
Fundamentally, the position is supported by continuation in ultra loose financial policies by BOJ, going well into summer, and not on Dollar strength.
Profitable Trading
Summerset
This position is still not mature to buy & hold to 142.5, because there is possibility for a second shoulder level (Right red arrow down).
It is possible to buy current levels with a protective hedge < 133.40 to target 138.
Fundamentally, the position is supported by continuation in ultra loose financial policies by BOJ, going well into summer, and not on Dollar strength.
Profitable Trading
Summerset
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.