Update: Staying Long USDJPY With "Yield" Trends
Updated
Fundamentals:
No change.
See previous post
Technicals:
Past Resistance = Future Support
Trend in tact
Long-term Intraday wave 4 developing...
Targets: 117 or 118.
No change.
See previous post
Technicals:
Past Resistance = Future Support
Trend in tact
Long-term Intraday wave 4 developing...
Targets: 117 or 118.
Trade active
4 Hour Chart: 1 Hour Chart:
Note
Note
1 Hour: Note
4 Hour: Note
On this 8 hour chart, the price moved from bottom to top of the band in what appears to also be a break out and a retracement to support. On top of this, we can see that a chart of US bond yields, which predict the direction of the USD, remain supportive of the USD going forward. Therefore, buying dips on USDJPY. For several other reasons, I prefer UJ first to tackle the benefits of a strong USD in the coming weeks until March 2022. My stop on USDJPY us 113. Targets@ 116.33 and 117.85 or 121.
Trade active
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