USDJPY

21 feb 2017

Good rotational pull happening here. Dollar has popped slightly in Tokyo session and the wires claim we are catching up on rate hike expectations per the Fed. The dollar has been tricky as of late, but we have generally just been waiting for the right time to get long with size again. These levels are still good, but we scaled in prior much lower. Max pain right now is about 112.90 and first key visit comes in at 113.90 - the momentum on this one looks good, and it is likely to continue higher. The extent to where it can push without a decent pullback into the momentum zone is the question now.