The dollar has truly shown its legs on this pair as of this year, currently floating at yearly highs.
As fundamental factors loomed and swayed the opinions of many retail investors and institutions in the last month or two when investors are looking towards safe haven pairs the dollar was clearly favoured over the Yen, for example.
Now, the majority see dollar strength and that’s all good but look, the higher time frames on this pair and correlating pairs alike show many major imbalances that are yet to be filled. This is my view based upon 1HR Time frame POIs.
I suspect a retracement to sub 118.500 before any upside continuations.
Let’s see what UJ can do this week!
As fundamental factors loomed and swayed the opinions of many retail investors and institutions in the last month or two when investors are looking towards safe haven pairs the dollar was clearly favoured over the Yen, for example.
Now, the majority see dollar strength and that’s all good but look, the higher time frames on this pair and correlating pairs alike show many major imbalances that are yet to be filled. This is my view based upon 1HR Time frame POIs.
I suspect a retracement to sub 118.500 before any upside continuations.
Let’s see what UJ can do this week!