USDJPY: Scenario for a Big Sell

22 באוק׳ 2020

The US dollar has rallied slightly against the Japanese yen during the trading session on Thursday, bouncing a bit from the massive selloff that we had seen on Wednesday. That being said, the actual shape of the market itself has been a descending triangle, and that suggests that the market is eventually going to break down much further. This will be especially true if we get massive stimulus, because it should work against the value of the greenback eventually.