Has the Japanese Yen more room to rally?

After the USDJPY reached the 105.000 level it has rallied 800 pips and then some. This was all in a very short amount of time. Can it rally further without a pullback as it did from below 80.000 to over 100.000 before it stalled a bit or will see a reversal? I am very cautious with this currency pair, but will look for entry levels during dips if we do get them unless something changes.

PipDiddy stated the the Japanese Bank of commerce put the brake on the weakening Yen- So , I am assuming that we might see a reversal and then the yen will start to consolidate, I believe the interest rates will be coming out tomorrow from Japan which may move the market but seems like the Yen weakness is over. Made a few hundred pips in the process :slight_smile:

The Japanese Yen tends to move in either direction much stronger than many thought, hoped or understand. I do expect the high volatility to remain and while I am not leaving the trade completely I do approach the Japanese Yen with caution. At this point I think we could see 122 as easily as 107 (when it comes to the USDJPY).

Price is all in the action. Higher highs and higher lows. Not sure what the fuss is about.