Majority (more than 90%) of international market participants are long USD-JPY.
They are all using logic to be bullish of this forex pair.
Longing USDJPY gives you a very COMFORTABLE FEELING because by logic this judgement is a sure winner.
I am SHORT the USD-JPY giving a target of ￥83.54
Shorting USDJPY gives you a very DISTASTEFUL FEELING because by logic this judgement is a sure loser. This is where I am in. To be at the minority side.
The smart monies are unrolling, covering and buying back their last year's Yen shorts stealthily. They are getting shorts on USD-JPY (means buying Yen) while the herd are all on the opposite side longing USD-JPY (ie shorting Yen) on stale and outdated facts, which is how foolish money behave.
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