USDJPY in retreat again 21 July
Now back down to lows seen yesterday and testing decent support/demand around 111.50
Large option expiries today between 111.40-50 now very much in play and should help to contain.
I've been a seller of USDJPY rallies for many months as regular readers know and my trolls were happy to put the boot in when we were higher and US rate hikes were being myopically hyped beyond reason. I rest my case.
No reason to change my view. 110.00-50 still a target area with US Fed failing to deliver on promised rate hikes. Again. ( See 2016 for previous track record !). BOJ running out of easing ammunition too.
EURJPY also falling through decent support at 130.00 to trigger stops into next demand at 129.80 with EUR supply noted generally again for the moment. EURGBP falling through 0.8950 helping to underpin cable again but offers/res nearby around 1.3020.
USDJPY Daily
EURJPY 15m
