UsdJpy- Bulls should be very, very careful

2022年9月28日

UsdJpy is approaching 145 again and, although when it comes to changing trends, BoJ can do much, last week's intervention was a clear warning that "we don't like it above 145".
The high just before intervention was 145.90 and I expect that zone to offer resistance now.
So, in my opinion, searching for selling opportunities in that zone can be a good strategy, and traders who would target the lower boundary of the range could also have a very good R: R for their short trades.