USD/JPY: Still feels like we could get a silly spike to 110+

I don’t have a position in USD/JPY at the moment and therefore my opinion should carry less weight but for what it’s worth, it feels to me that we may get a sharp spike sometime very soon. This will probably take out technical resistance at 105.50 but my trade of the year is still to sell a failure near 110.50/111.00 for a move back to 90.

If you can get on to this move up to 110, then good luck to you, but I don’t have the patience or energy to ‘nurse’ a long USD/JPY position at the moment.