USDJPY Monthly (2nd Trade of 2022)
https://macrobeat.co.uk/my-thoughts/f/usdjpy-monthly-2nd-trade-of-2022
USDJPY Monthly (2nd Trade of 2022)
USDJPY MONTHLY
The time of year to look also at the very big charts out there…. since October, we have cleared the 112.70 top of the monthly cloud and have not traded below that level BUT in November as well in December, we have tested that cloud break out level…. I have 2 levels I watch on the downside in order to feel that the top side trade is on, that would need to hold…. 112.70 would be the first and 111.50 the second.. while USDJPY stays above those levels… the topside is the way to go… while above those levels, I would think that we are heading towards 120.00 and also possibly towards 125.00 in 2022….
In order to go higher, we would need an even faster FED than we would expect right now…. with a FED that acts on those 3 hikes in 2022 and 3 hikes in 2023.. I would say near 125.00 is about the rate I would expect…. Come early next year.. I will start to re-focus on USDJPY… the only reason I sold my last longs today has only to do with the time of year… with the upcoming year end as well as the general holiday period with all the geopolitical risk that we see currently… I do NOT expect this to be a fast move , hence I am not worried to miss it at all…. any dip towards 111.50 to 112.70 is a clear buy in my opinion….
Target 120.00 and 125.00 if we are a bit lucky.
This trade is among my 2022 trades alongside Long USDCHF and EURCHF, as well as Short EURUSD
I am in process of writing my overall 2022 game plan with all the broad views and all the details, caveats and things to look out for… it will be released in the next few days
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