USDJPY First Shift In Trend Since 2017. Target: 108.00

Using hourly data back to 2017 the USDJPY is showing a clear shift in trend; the downward channel broke in April for the first time this year. The moving average just highlights how Monday's brief selloff acted as a pullback to a trend reversal to the upside. While the trade war may be negative for the USD in the long-run, the USD is normally the safest asset for investors paring back on their non-US investments.

Comment:

USDJPY rally has incredibly not looked back since this post was made. It cleared 107, 108, and 109 without a pause. 109-110 looks like a trading zone, based on the 25th Jan to 12th Feb price action, and possibly a key zone to pause or pullback from.

Trade closed: target reached