USDJPY Short Opportunity

Previously, the UJ long was called considering the technicals and macro fundamentals. Now, there’s reason to believe DXY has peaked. The latest CPI news dated 14/09/2022 suggested inflation was still not slowing down despite the Fed’s attempts. However, in anticipation of inflation actually slowing down as expected from now, we suspect this could be the top. We have to wait for HTF confirmation before the shorts in case inflation does not slow down as expected. As such, price should follow as depicted on the chart in the event of our short. If price behaves otherwise, then the top may not be in yet.