ridethepig

USDJPY near steel resistance

FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
=> Here we are tracking 111.7x very closely... this marks the 61.8 retracement from last years highs.
=> This recovery should further be capped by the 112.1x highs as we have plenty of unwinding to do there... positioning from a macro perspective will start changing after today with Sept hikes already confirmed as a done deal there is not much room left in the current dollar leg.
=> A breakdown towards 108. xx for the year end remains in play.(edited)
=> Good luck
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