FX.co ★ remington.kihn | USD/JPY

Hello everyone! As I predicted, USDJPY has started working off the double top signal. The currency pair is returning to the 23.6% Fibonacci level and is capable of breaking through 161.00. Japan’s Economy Minister Minoru Kihara and senior officials from the financial bloc made tough statements, calling on the largest state pension funds to more actively repatriate capital and invest in the now cheaper domestic assets. Long-term money will weaken the yen, and in addition, the Ministry of Finance could have aligned a currency intervention with these statements, which it is no longer obliged to pre-announce. The timing for words and actions is perfect: Friday factor: currency speculators will be getting rid of the assets they bought up, including the dollar The absence of important news will lead to technical trading, and from the technical analysis perspective a double top is currently being worked out