USDJPY long to 112.5x. Alternate scenario is a bounce in the 105 area
Yen group - Long-term wave analysis. JXY - Japanese Yen Currency Index weekly chart
The Japanese Yen is looking to break out of my wedge. People are looking to hedge their money in the yen, meaning bullish gold and bitcoin. We shall also be seeing a recession soon in the US.
Yen is probably going to increase in value for the next couple of weeks.
"The U.S. stands out for its positive returns. Ten-year Treasury rates were at 2.16% on May 31, vs. -0.09% for Japan and -0.20% for German equivalents. The dollar has been taking away the mantle of safe haven thanks to interest-rate differentials. The flows into yen as a safe haven remains, but for us to see it go down to, say, 105, you’ll need to see a major...
DXY is heavy in the Euro. Euro stock market peaked end of 1999. This caused huge rise in DXY starting in 1999. Huge rise in DXY keeps WTI & GOLD down like it always does in the central bank era. Europe begins to recover in 2002 which causes DXY to fall. WTI & GOLD rises rapidly as DXY crashes. WTI rises much quicker than GOLD. WTI becomes unsustainable and...
Expecting 1.66 Soon, If momentum stay strong then can go even to 1.655 but afterward that it will start climbing .
Selling USDJPY hopefully for the long run. Dollar losing dominance and yen is a safe haven. True both long term and medium term.
Considering shorting EJ with a small lot and tight SL EXY still has some uncertainty on direction. However, JXY should see a very short term bullish move followed by some bearish days then followed by big bullish moves. Worth giving it a gamble. Not the ideal trade but can keep a very tight stop. Also R:R is good.