I've been consistent in my net bullish bias on USDJPY since 150. The TA made sense and at the time it seemed silly to me that all of a sudden absolutely everyone, with no Forex experience, all suddenly were entirely certain the USDJPY was going to crash.
I've been a Forex trader a long time. Seen a lot of people come and go. If the game was as simple as look for a big red candle and scary news headline to position for the imminent crash, people would do better.
What actually happens in Forex is most people get mauled and move on.
With all that said, I do not think the USDJPY may be at a high. I also think USDJPY has broken out and we'll ultimately go higher.
But I think we're now at a point where the USDJPY crash narrative actually makes sense from a TA perspective.
And people are not talking about it anymore. Now they're saying the Yen is collapsing.