USDJPY the road to 150.00
Updated
There is a shortage of US dollars. The Swiss National Bank has basically borrowed nearly $6.3 billion from the U.S. Federal Reserve's currency swap line facility, roughly double the amount drawn a week earlier, New York Fed data released on Thursday showed. This is the SNB having to provide liquidity for US-denominated debt holders in and around Europe and possibly global entities.
The yen is fundamentally broken as we have seen Japanese Gov. debt not trading for days at a time. But the government still continues to refinance itself. So I am expecting quite a surge on the USD, and a continued decline in the yen. Technically the US CPI yesterday cleared both the buy and sell stops. as the MM's gathered their orders together.
The yen is fundamentally broken as we have seen Japanese Gov. debt not trading for days at a time. But the government still continues to refinance itself. So I am expecting quite a surge on the USD, and a continued decline in the yen. Technically the US CPI yesterday cleared both the buy and sell stops. as the MM's gathered their orders together.
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Moved the stop to Breakeven
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