A friend of mine who’s a very technical, very long-term trader thinks this USD/JPY move is basically fuelled by false expectations and that it will start to run out of steam quite soon probably around 83.00ish. He then expects to see fresh new lows below 75.00 before a possible medium-term base can begin to form.
I do love a good contrarian trade but I’m not sure about this particular idea just yet.
Have a great rest-of-day and I’ll catch you tomorrow.