USD/JPY about to BLOW OFF?

USD/JPY has reached a big level on day three after three days of rise and is in the upper end of the 100 pip box....AND there is a new peak formation forming - what more could you ask for? Shame it's taking shape in the gap time around the London close and just ahead of FOMC minutes and before US CPI Thursday morning :(

Let's see what happens. One thing to note is Kuroda gave the green light to stay short of YEN!

''*KURODA: YEN DEPRECIATION SO FAR MAY HAVE HAD GOOD MACRO IMPACT''

Commentaire:

Typically, we could see the market pop higher, pulling in breakout traders a stop hunt on either side of the consolidation period before the selloff!