Tokyo says enough , starts intervention!INFORMATION
USDJPY has been rising for multiple weeks. The current trend is very bullish. Couple of days ago, Japan had to intervene and bought Yen using its dollar reserves. Statistic shows that Japan has over 1 Trillion US dollars in their reserves. As the dollar continues to get stronger, BOJ is planning to Battle for the next 6-9 months to stabilize the Yen.
WHAT COMES IN MIND?
USDJPY is in a consolidation Phase on the higher timeframe and will continue to do so base on what BOJ is trying to do.
FEDS continue to stay Hawkish on Interest rates this means stronger Dollar
Japan interest rate stays Low and BOJ still continuing to print Money
Population Statistic:
Japan has a growing number of Old people compare to Young people, this is very bad long term for the economy because there is a imbalance of supporting cast.
MY FINAL THOUGHTS:
We will consolidate between 140 - 145 for the next couple of months unless BOJ stops intervening.
I have USDJPY continuing higher in a slow fashion to 160 - 170. Weeks to MONTHS
