If I had to guesstimate how USDJPY will trade in the next 5 years. I am currently long. I will go short at C and will buy at D if these prices hit on my long term signal.
코멘트:
Keep eyes open for this possibility. 116 is next level to either take long profits or look for shorting opportunities. Look at metals if we see this price level - I imagine they should be buys.
코멘트:
116 is the place to short if we see a retracement. A break and close above 116 on the weekly violates the short thesis.
코멘트:
All signs show that we are now approaching the 104 - 101 region. 101 has been an extremely supportive price level for many years (2000, 2004, 2014, and 2016), however, it's had its fair share of breakdowns and breakouts as well. Whenever price definitively breached the 101 level, the JPY lost or gained 20% against the USD consistently since 1993. Comparing USDJPY to EURJPY and GBPJPY, it seems that USDJPY has A LOT more vulnerability to the downside.