🔺The USDJPY has declined since the US Treasury yield reached an all-time high and reached the level of the 2008 financial crisis. This prompted US intervention in the market, causing the Japanese Yen to rise sharply and become extremely bullish.

🔺We anticipate a bullish trend for USDJPY and a subsequent filling of the liquidity gap created by the recent sell-off. A target of approximately +500 pips can be achieved within days or weeks if strong bullish data is released on the NFP day. Traders should exercise strict risk management when trading USDJPY.