LONG USDJPY at 122.40
TP: 124.90
SL: 121.25
USDJPY has pushed through a nice tech support lvl of 122.40 and I have therefore bought the break. The fed will also outpace the BOJ in terms of rate hikes this year therefore leading to my view of USDJPY between 125-130 level. BOJ have signalled that they would get involved and stop the depreciation of the Yen at some point, however I only forecast that lvl to be around 130. So there is still room to rally.
Good luck!
TP: 124.90
SL: 121.25
USDJPY has pushed through a nice tech support lvl of 122.40 and I have therefore bought the break. The fed will also outpace the BOJ in terms of rate hikes this year therefore leading to my view of USDJPY between 125-130 level. BOJ have signalled that they would get involved and stop the depreciation of the Yen at some point, however I only forecast that lvl to be around 130. So there is still room to rally.
Good luck!
Comment:
TP hit for +250 pips :)