USD/JPY: Bullish break-out confirmed
This is the chart that the USD/JPY bulls are looking at (see chart) and it does present quite a compelling case. In a perfect world we would wait for confirmation when 100.50 is broken and then buy dips for a move to 108. The world seldom works in perfect order but maybe it will this time.
Personally I’m leaving it alone as whilst it looks and feels bullish, the stories about already huge long positions in USD/JPY has me worried.