USDJPY Chartwatch (for long term breakout trade)
Bias is down, street forecasters calling for a lower USDJPY for next year based on lower rate hike expectation, slower US growth due to decrease tax effects. US net positioning is highest in two years in CFTC, downside could accelerate
should the sentiment change. Japan is also the net creditor of the world and should the returns else where (emerging markets, europe (highly undervalued)) look more attractive, it will lead to exodus of Japanese money from the US to elsewhere in search of higher Yield. Street forecasters and big banks are calling for a stalling for the US dollar and over performance by the emerging market in 2019
www.bloomberg.com/ne...t-they-re-saying-now
Level to watch 112.20, watching for trend change
should the sentiment change. Japan is also the net creditor of the world and should the returns else where (emerging markets, europe (highly undervalued)) look more attractive, it will lead to exodus of Japanese money from the US to elsewhere in search of higher Yield. Street forecasters and big banks are calling for a stalling for the US dollar and over performance by the emerging market in 2019
www.bloomberg.com/ne...t-they-re-saying-now
Level to watch 112.20, watching for trend change
dailypriceaction.com...-wedge-on-your-radar