What I have always loved about our Forex Forum is you never know when someone will post something that catches your attention, especially when it proves to be on target.

In this regard, I am just the messenger passing on what was sent to me by one of our long-time and highly respected Global-View community members, whom I called a savvy trader. In this regard, take a look at what I posted about USDJPY and then scroll down for a bold prediction by this savvy trader.

April 27,2024 12:30 AM
I have a really good memory and recalled this being sent to me in Oct 2022 by one of our most experienced and savvy traders. It took some time but his key level is now on the radar.

UsdJpy
Just saying
with the level for them (BoJ/MoF) to truly defend 160-162

And then came a timely alert

Having seen my post, he sent me the following, which I posted on the Forex Forum prior to the BoJ intervening:

April 28, 2024 at 8:06 AM

USDJPY

I just got an email from the savvy trader I mentioned earlier with the following

I would suggest that the current climb will get sticky from 157 onwards

Re intervention he said

They likely will shoot across the bows 157 but the battleship will come out at 160 162 I don’t believe they have decided on an exact level just yet but yes intervention likely initially by MoF then the pension fund and finally boj hence why I say sticky from 157 up

This post turned out to be a timely one as the Bank of Japan surprised the market by intervening after USDJPY traded just above 160 as shown in the following chart.

Bold Prediction for USDJPY

Given this savvy trader’s calls in USDJPY, I would be remiss if I didn’t pass on his latest one, which I call a Bold Prediction.

“Once 151 Ish goes then looking for 10 big figures down bounce five and then another 10 big figures down the ultimate low may not be before 126”

“USDJPY is in its own bubble

People will buy it screaming and kicking all the way down especially those who missed the exit above 157 and especially at 160

I repeat the trade is USDJPY

Sell rallies and be patient for the eventual drop that like my original message to you about intervention

It will essentially come out of the blue in terms of timing”

The following chart shows levels on a monthly chart

Charts posted courtesy of The Amazing Trader

Note these views do not represent my views or those of Global-View so as with any forum post, it is for information purposes only and reflects the opinion of the member posting (in this case passing on his views).