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USDJPY at an inflection point.
Is Biden going to drop Powel? That's the million dollar question. Inflation is on the verge of bursting out in the US, if that happens, we will see price break out of the channel to reach higher heights. Otherwise, a rejection at the top of the channel to remain status quo is set to play out.
BEAR CASE
Until proven otherwise, our bias is status quo, we are expecting a price rejection at around 95.5.
BULL CASE
If price breaks out convincingly, we will wait for a pull back to make sure it's not a fake out and go for a long. The retest at 95.5 after a break out is in our sights.
BEAR CASE
Until proven otherwise, our bias is status quo, we are expecting a price rejection at around 95.5.
BULL CASE
If price breaks out convincingly, we will wait for a pull back to make sure it's not a fake out and go for a long. The retest at 95.5 after a break out is in our sights.
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