- Time for a closer look at USD/JPY (90.71 now) given my interest in EUR/JPY and AUD/JPY.
- For past few months, just a cursory glance tells me this is a sideways market, uninteresting for trend traders.
- Monthly : Confirm above impression. Firmly sideways.
- Weekly : Potential for a SHS bottom but way too early to be positioning for it now. Needs to break above 92.32 before I would contemplate this possibility seriously. For now, avoid straight USD/JPY trading.
- If and when the Fed starts hiking rates, USD/JPY would be the most interesting amongst all FX pairs.
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