Preferred direction: BUY
Comment: The Japanese yen continues to be the weakest currency among the majors. Buy priority for the USDJPY currency pair has not only a medium-term framework, but also a long-term one. The reason for this is the low rate and the inaction of the Central Bank of Japan. You can't achieve anything with words.
The current squeeze towards the maximum of the previous year in the near future may push the price to the level of 154. The more likely scenario №1 is already in the works. Scenario №2 - assumes a preliminary fall towards the level of 150, which is unlikely. Using two scenarios simultaneously and reasonable risk management, you can safely accumulate a medium-term long position with a target at level 154.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: The Japanese yen continues to be the weakest currency among the majors. Buy priority for the USDJPY currency pair has not only a medium-term framework, but also a long-term one. The reason for this is the low rate and the inaction of the Central Bank of Japan. You can't achieve anything with words.
The current squeeze towards the maximum of the previous year in the near future may push the price to the level of 154. The more likely scenario №1 is already in the works. Scenario №2 - assumes a preliminary fall towards the level of 150, which is unlikely. Using two scenarios simultaneously and reasonable risk management, you can safely accumulate a medium-term long position with a target at level 154.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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