The USD/JPY broke above the 113.3 line
Good morning.
USD/JPY broke through the 113.3 line and fell to 113.08 yen.
In yesterday's article, I wrote about long positions for a rebound toward around 113.70 and shorts from around 113.70.
Although it has finally dropped from 114 yen as mentioned in the update, the downside remains firm as ever.
As I noted in the article, since the BOJ's unanimous decision to deny further rate hikes, the unwinding of yen shorts has been rotating through each currency.
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