Large speculators are long JPY, but sentiment is moving into some extreme ahead of BOJ this week, so think pair can be at some strong support here at 137-139. But real “concern” for the markets will be when USDJPY start making wave (C) down. (considering the correlation in July>> JPY up, Nikkei down, SP500 follows). But for now, still “OK”, as wave (B) is missing. I talked about this in my recent video. CLICK HERE
GH
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