23 May 2022, USD/JPY
USDJPY trading plan:
Speculators' net long positioning on the U.S. dollar slipped, after hitting their highest level since late November in the previous week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released. The value of the net long dollar position drifted lower to $19.75 billion in the week ended May 17, from $19.82 billion the previous week. The dollar has been underpinned overall in recent months by safe-haven bids amid soaring inflation, a hawkish Federal Reserve and the Russia-Ukraine conflict. That rally, however, fizzled this week due to increased volatility in global financial markets after the lofty levels the dollar had scaled in recent months.
Investment idea: range 127.25 -128.15.