USD/JPY: Buy-big-dips still obvious play but….

  • This is another pair which will be severely affected by the FOMC decision;
  • Marginal new trend highs were made last week but so far no follow-through;
  • The speculative market remains quite long of USD/JPY but is also very bullish;
  • I’ve got no strong feel here at all and am happily sidelined.
  1. It’s too crowd trade, better see harsh dip to get in. But it could rally crazy first then retreat, hence a small position right now if you want to join the board now.

  2. As far as I see it, it can go to 105 and then retrace to about 98-100 or it can retrace before heading higher. Anyhow, as Mr. Lee stated, buying the big dip when it happens would definitely be THE trade, since it has a lot higher to go in the next 1-2 years.

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