As the end of the trading year nears, one of the most exciting market moves in 2022 was the Japanese yen’s sharp decline. All JPY pairs moved higher, but one, in particular, stands out of the crowd – the USD/JPY. It is “the” currency” pair that everyone keeps an eye on when trading the yen. And it broke higher shortly after the Russian invasion of Ukraine, surprising everyone. The bullish breakout was a surprise because the yen acted so far as a safe haven currency. Therefore, the war should have triggered a strong demand for the yen, but the opposite happened. 116 was a key level. Once above, nothing stopped the ... (full story)