USDJPY Analysis: Caution on Strong Bullish Rally
USDJPY is on a strong bullish rally, mainly due to the weakening of the Japanese yen. If you decide to chase the bull, beware of getting caught in the act.
That's because the Japanese Yen has reached the BOJ intervention zone. I think the real worry comes in when the market strikes the 161.93 to 163.26 range, and the intervention would be imminent.
Without any intervention for the next 1 to 2 weeks, I will call the Bluff on BOJ.
Stay away from this pair if you are not a Forex Trading veteran.
That's because the Japanese Yen has reached the BOJ intervention zone. I think the real worry comes in when the market strikes the 161.93 to 163.26 range, and the intervention would be imminent.
Without any intervention for the next 1 to 2 weeks, I will call the Bluff on BOJ.
Stay away from this pair if you are not a Forex Trading veteran.
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www.tiktok.com/@raynlim