USD/JPY outlook: Break back above 100.00 has bulls in control again
- Technical close back above 100.00 argues for a full retracement to 103.75.
- Mild risk-off sentiment could weigh but market doesn’t care, it wants to buy the greenback.
- AUD/JPY and EUR/JPY looking stronger by the day, more arguments for a higher USD/JPY.
- Next sell orders of note reported at 101.25.
The USDJPY market is over extending the expected range of 95-100 to 93.50-101.50.
I still think the market is ranged. and as you mentioned in one of the posts this market is all about stopping out.
I still think same Kailash but the bulls are roaring so best give them some space 🙂
I’m in the same boat a little with you on AUD/JPY however i think 92.50 will be some staunch resistance. Also the 200 day ma sits at 92.41 and if you draw a fibo from 79.36 to 105.42, 92.41 is the 50% retrace so it may be worth a shot to go short around 92.25 with a stop above 92.60 and have an initial target of 91.50.