I was a risk seller since the turn of the new year. However, I didn't expect USDJPY
to suffer the most. Here we are, USDJPY
below 114. There has been abnormal level of yen volatility
during the Asian session. The bottom of the yen pairs is very likely to be a deep V shape reversal as I think it will be stopped by BOJ intervention. The next important level I am looking at right now is around 111.50. Prepare for the volatility
and reversal down there.