Yen to be the best long play on dollar?
USDJPY is about to breach below its lowest 'intervention' low. It is likely that there are some waiting orders below. It is my belief that we are only getting there to activate these orders and resume USD trend upwards.
Bank of Japan still didn't change its policy. Rest of the world is trying to dampen inflation, whereas Japan only artificially props up Yen, but is not raising rates like the other banks. So this might be an awesome opportunity to get some longs going again with partial or full take profits near 150.9 where the last major intervention started.
Bank of Japan still didn't change its policy. Rest of the world is trying to dampen inflation, whereas Japan only artificially props up Yen, but is not raising rates like the other banks. So this might be an awesome opportunity to get some longs going again with partial or full take profits near 150.9 where the last major intervention started.
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