USDJPY is now below the 50 SMA, and has a pattern of lower highs in place. To me, this suggests a bear trend is in place.
Given the fundamental situation of the Yen -- see our archive on Japan -- I think another big move up in USDJPY is likely, and I agree with John Mauldin that USDJPY is going to 150 - 200 in about 5 years. However, I would like to see an accumulation zone form first, perhaps at 94.00 -- where there is already support and where the 200 EMA is.
What do you think?
Given the fundamental situation of the Yen -- see our archive on Japan -- I think another big move up in USDJPY is likely, and I agree with John Mauldin that USDJPY is going to 150 - 200 in about 5 years. However, I would like to see an accumulation zone form first, perhaps at 94.00 -- where there is already support and where the 200 EMA is.
What do you think?
by Simit Patel via InformedTrades
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