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Short

USDJPY: We need to watch a bigger picture.

FX:USDJPY   U.S. Dollar/Japanese Yen
312 2 5
For two weeks, USDJPY             lost 1000 pips due to demand for safe-haven currency in global uncertainty.

This is the biggest lost of USDJPY             since 1998 : 18 years one time. So it's a rare phenomenon.

I have a pessimistic view about current situation of global economy. There is no bright signal.

Despite the effort of BOJ to increase stimulus and depreciate Yen, I think Yen will receive more bid.

Look at on the chart, I draw a long long term trend line , USDJPY             officially break this trend line , signal for more loss.

I believe USDJPY             would fall to 105 level in the medium term.

Mate, I have same opinion! Turkey & Saudi is dragging US in a deep war in Middle East, the 4 hikes will turn into 2-3 negative "increases", therefore I think 75 would be a very realistic target! Enjoy your pips!!!
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thank so much
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