LONG (BUY)
USD/JPY
HIGH volatility; 2/3 position sizeTP
@: (ONLY VIP 
)Recommended Entry Range
155.300 - 155.450 
► The Yen had already continued to rise during Asian trading, before we then saw some panic unwinding of the Carry Trade, allowing the Yen to gain even further against its peers - currently more than 1.5%. The market is increasingly questioning the assumption that the BoJ will continue to maintain loose monetary policy compared with other central banks. There are also concerns that Japan could intervene again, or more aggressively, to support the current strengthening.
► I think it is very unlikely that the Bank of Japan will deliver a jumbo rate hike. Instead, I expect a 25-basis-point hike later this month. I also expect a cautiously hawkish outlook. Ultimately, the BoJ does not want to slow the Japanese economy - especially during a period of high energy prices.
► The strength of the Yen is even more impressive considering that oil prices have moved higher again, while both sides continue their tit-for-tat military strikes with no end currently in sight. Oil prices initially fell further during Asian trading - also hitting our TP - but are now above yesterday’s highs. Despite higher energy prices, we are currently not seeing increased Risk-Off sentiment. Precious metals have also continued to rise.
► Our USD/JPY has likely already hit your SL. If you are still LONG, please update the TP accordingly.
► We are buying this sharp dip, as the sell-off has now gone quite far, and expect somewhat stronger support below 155.500
and toward 155.000 = July and August lows.position code / 100% Transparency - 26090301A
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USD/JPY fell even near near Jul-Aug lows
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