USDJPY - Break and Pullback
We are having a mixed bias with USD due to the recent developments (stimulus, rising yields - but need to out phase inflation expectations). With the increasing optimism for Global Recovery, demand for safe havens are starting to diminish. This will also affect the Yen. A strong Nikkei will result to a weaker Yen. We need to see prices trading above 104.50. From there, we can look for buy opportunities.
The risk of this idea is when Geopolitical Uncertainty arises, which might induce another demand for Safe Haven Currency.
The risk of this idea is when Geopolitical Uncertainty arises, which might induce another demand for Safe Haven Currency.
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