Lots of USD pairs are at questionable highs. With the market acting crazy, could we see the Dollar to crash, in my opinion I reckon it is due to - but it’s only a matter of time. With the Fed injecting ‘unlimited’ amounts of money into the market, this can only end bad sooner rather than later.
Here I have marked up USDJPY. You can see that price is respecting trend quite well, and price is making it’s way back up to a supply area where price previously crashed around 1000 pips - could we see this happen again?
I’ll be looking to sell around the 112.0 area depending on price action.
Let’s wait and see. Good luck and risk accordingly if you decide to enter.