FX:USDJPY U.S. Dollar/Japanese Yen
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.
usually the BOJ intervention is like a cream treatment to a wooden leg! This cross is doomed! In US there are already polls that shows that by the end of 2016, US may go for negative rates! This 4 hikes in 2016 is like a dope dream! My target is 100, if goes through 112 I will add more selling orders. The realistic bottom is 100!