A possible scenario to look at
As traders, even if it’s not our expected outcome and actual view, we need to look at what’s in front of us and try to look forward to what could help or go wrong in our actual positions if any on board. My today’s view in the context of a stronger USD, BOJ’s repeated confirmation to want to reach their inflation target, an improved Korean peninsula situation, higher Japanese wages hopefully pushing up consumption and inflation, is that 110 will eventually break, decisively or temporary that’s an open question for a visit up to 111s at least.
BUT fact is that 110 has resisted twice now. Fibs, MA’s ,Japanese exporters, range and psychologic level players are keeping a lid on it.