The USDJPY is breaking out of a multi-month triangle. I have entered a long position with a stop below this week’s open. I was specifically waiting for this breakout to enter, which I consider just a small addition to my ‘long dollar’ portfolio. My major shorts are EURUSD , and GBPUSD . If the breakout holds, I will begin to build a larger position in USDJPY .
My targets are the swing high zones at 118 and 125, with a ‘fantasy target’ of 130.
As Europe crumbles, and the UK commits suicide, the world is starting to realize that the US Dollar is the only game in town. Now it’s the JPY’s turn.