The yen strengthening is what preceded the last market selloff and it looks like it could also be the cause of the next one.
If we look at the chart, it seems like we've now formed a massive top.
If USDJPY breaks through support at 141.33 that should be the initial trigger for a short. Below $139, under the wicks would be the safer play.
I could see the move going all the way down to the lower support levels.
Let's see how it plays out.
If we look at the chart, it seems like we've now formed a massive top.
If USDJPY breaks through support at 141.33 that should be the initial trigger for a short. Below $139, under the wicks would be the safer play.
I could see the move going all the way down to the lower support levels.
Let's see how it plays out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.