The greenback has exploded to fresh 20-year highs against the Japanese Yen on the prospect of the Fed hiking interest rates more aggressively and higher than the BOJ which resonates with MM. The cross rate has come a long way in just 2-months and it might need a rest but fighting strong trends is historically the fast way to the poor house i.e. we feel traders should be long or out of the USDJPY.
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