I think it is quite evident where we are going here 😅. Big banks shorting the dollar, we are in a big ride this year.
Interesting level at 1.36. I reckon worst case, price tests that level and drops to the target 1.31. This week's futures report will confirm if we are all moving in the direction. Don't let the current bull fool you, USD is still primed to drop.
In respect to futures market pointing to a short in the short-term for this currency pair, I believe the USDJPY will test test 140.1 levels.