Yen weakness from hawkish Fed minutes – but I’m not chasing it
The Yen sold off after the Fed minutes, but chasing here feels like a trap. I'm staying sidelined until there's a clearer setup.
Yen weakness from hawkish Fed minutes – but I’m not chasing it
The Yen got hit again after the FOMC minutes showed the majority still leaning toward more tightening. Easy narrative – everyone piles into USD/JPY long. But that's exactly why I'm not touching it here.
These moves have a habit of reversing quickly once the BoJ starts dropping hints or the market decides the hawkish repricing is done. I'd rather wait for a dip to buy USD/JPY than chase the breakout.
The risk/reward on a fresh long at these levels is garbage. Patience pays.

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