Japanese Yen has been falling against US dollar for quite some time, strong dollar trend is super bullish. Expect USDJPY to pull back to 146.25 short term, then hitting the Fib level 155.83 and eventually double top target of 160 , 1990 highs. Strong US dollar is going to break a lot of economies across the world and we'll see a sovereign debt crisis across globe. Stack up your physical gold and silver in small accumulations.
Trade active:
USDJPY hit my first target 146.25 today as BOJ plans on intervention. I believe we might see the price retest the previous breakout level 145 and might consolidate between 145 and 150 levels for next few weeks to build the base for next target of 155. If 145 fails to hold we might see levels 141-142 hitting the lower end of the yellow channel testing the support. Major trend is still bullish.
Trade closed: target reached:
Levels 140-141 hit today. Might retest 138 support levels before technical bounce.