USDJPY Update - kicks on strong to blow through expected targets

The Yen has kicked on as expected and even blew through our targets where we expect to see some reaction from the sellers. Price has found selling in the last few hours as Trump signs a bill supporting Hong Kong. We are happy to stand our ground for now but will be watching for a lower high to put the pressure back on the buyers after the blow-off through 109.480 highs. If the lower high plays out, it will be time to close and head back to the drawing board to watch for another opportunity. The key risk level is now down around 109.100 (to guard against a straight selloff) so there is still some room to move.

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