USDJPY Long term bias
If you look closely, the second daily high above 151 never broke the first high. This means there is still a lot of liquidity sitting above the daily highs.
Even though dxy is currently bearish, UJ isn’t. Usually these two correlate with each other almost 1:1. This suggests we are very likely to see a huge manipulation spike above the daily highs liquidating all the early sellers and then seeing a strong momentum to the downside.
Expecting at least a 1000 pips move after the daily highs get broken. It’s very likely we may also see some intervention from the Japanese government after the daily highs are taken out resulting in even bigger bearish momentum.
Even though dxy is currently bearish, UJ isn’t. Usually these two correlate with each other almost 1:1. This suggests we are very likely to see a huge manipulation spike above the daily highs liquidating all the early sellers and then seeing a strong momentum to the downside.
Expecting at least a 1000 pips move after the daily highs get broken. It’s very likely we may also see some intervention from the Japanese government after the daily highs are taken out resulting in even bigger bearish momentum.
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