USD/JPY: Risk-reward favours long-term top-pickers by Sean Lee

Picking levels in USD/JPY is will nigh impossible and it really is a matter of watching the market very closely for signs of accelerations and turns. I still cannot get away from the view that the big bull move from sub-80 on the back of the BOJ is running out of steam. That doesn’t mean that we don’t see levels above 110, in fact it could happen today for all I know,  but I like the risk reward in trying to pick a medium-term top somewhere up here looking for a nasty dip back below 100.

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