USD/JPY – break below 100 would be a challenge for BOJ

FX:USDJPY   U.S. Dollar/Japanese Yen
With USD/JPY             increasingly looking heavy, the decline to 100.00 appears likely. A daily close below 100.00 would be monumental and open doors for 98.00 levels.

Wilson Leung, from Trendsetter FX was on our Finance show today presenting his view on USD/JPY             pair. The segment could be found here - https://www.youtube.com/watch?v=vIEkE4nLYEE

Key points

Roller coaster move in USD/JPY             over the last few days

Bearish invalidation seen only above 102.66

On a larger scheme of things, bearish invalidation seen above 105.50 area

Remains in favor of selling the rallies in USD/JPY            

Pull back in equities is likely to be a catalyst for USD/JPY             sell-off

Tomorrow’s US CPI             data is important

Below 100.00, BOJ would be forced to step up its rhetoric
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