$USDJPY | Bullish bets, It's NOT Yet Over
USDJPY Folks, while the effects of the Trump Trade reversal could present a further souring of bullish dollar bets over the longer term, I think this was evident two weeks ago after failing to beak above the $115.23 level. That could explain the USDJPY retreat having discounted the possibility of a failed healthcare reform. Algorithms were selling first, back in March 10th, then ask questions later. Was this a foreshadowing event ? Somebody made a lot of money here. How about a nice harsh upward reversal next week ? It's not yet over, I'm expecting the price direction for USDJPY to re-enter into the rising channel area, somewhere around $112.66 level followed by a test to the $114.00 mid level resistance area. Folks, take out the popcorn bowl, this will get interesting.
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