Price action in USDJPY is very supportive, but really in the USD in general as the rate hike is now inevitable. I expect the target to be reached rather quickly (in 2015) and ideally well before the rate hike hits.
The 127.50 target is based purely on the idea that the high should be breached given the price action and fundamental backdrop not to mention the lack of consensus on higher USDJPY. I choose 127.50 for now because it is a supply zone that should cap this leg of the move.
The 127.50 target is based purely on the idea that the high should be breached given the price action and fundamental backdrop not to mention the lack of consensus on higher USDJPY. I choose 127.50 for now because it is a supply zone that should cap this leg of the move.
