We have confirmed breakout of 120.71, this could target further upside resistance at 121.10 and might follow by 121.80.
DislikedI like how the daily EMA50 has held. Buy limit orders around 119.50 for the next leg up.Ignored
Dislikedwhats your targeted zone?Ignored
DislikedThere is no guarantee that the Fed is done raising. In fact I *think* they will raise at least 25bp more, if not 50bp before this tightening cycle is over. The BoJ, on the other hand, doesn't seem to have any reason to raise and even if they do, the long term effect on the currency market will be but a blip on your charts. The only realistic positive for JPY at this point seems to be news relating to China, such as further tightening, investment controls/taxes, or a serious widening of the CNY trading band against USD. Any combination of these occurrences...Ignored