Preferred direction: BUY
Comment: Despite the short-term and medium-term bearish outlook for the US dollar, the USDJPY currency pair will still remain a buy-priority, most likely in the long term. In the very near future, the instrument will most likely go for a correction, but you should not count on too deep a downward movement. The medium term for this pair looks quite doubtful, and the short term is quite risky, since near the level of 150 the Central Bank of Japan may intervene at any time. Only the long-term scenario is considered with confidence, which involves trading at the level of 150 with the prospect of growth above this level.
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Comment: Despite the short-term and medium-term bearish outlook for the US dollar, the USDJPY currency pair will still remain a buy-priority, most likely in the long term. In the very near future, the instrument will most likely go for a correction, but you should not count on too deep a downward movement. The medium term for this pair looks quite doubtful, and the short term is quite risky, since near the level of 150 the Central Bank of Japan may intervene at any time. Only the long-term scenario is considered with confidence, which involves trading at the level of 150 with the prospect of growth above this level.
Thank you for like and share your views!
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