USDJPY's Latest Shorts Squeezing

Just like I have said yesterday, the USDJPY is truly the DXY index strength meter!

After a positive US CPI data result, the Forex markets entered into a wild volatility squeezing the shorts across 2 USDJPY price levels.

Bulls are targeting the 145 area so that's my stop loss for today's trade plan.

Even so, I still want to short this level as it's a strong 24-year supply. Should the USDJPY's latest Bull flag consolidates, that's where I want to enter through the 78.60% Fib level. I cannot risk to short any prices above it.

A break-down from this Fib level will challenge yesterday's low and I adjust to take profit some pips above it.

This is a very risky trade as USD Bulls sending a very clear message across the entire financial markets.

Original article written by me:

https://www.finlogix.com/analysis/20220914/usdjpys-latest-shorts-squeezing