USDJPY has been in decline again the Yen since last weeks CPI release. The thing I find most interesting though is the rate of the fall. The left hand chart shows the expected daily range (ExMo) for the pair, with price moving further than expectation in the last 4 sessions.
Yesterday we dropped double ExMo by 9:30am! With price sitting on the low for the rest of the session.
The issue right now is I'm not sure if the opportunity is in a reversion to the upside, or if we should fade any pops?
Let me know your thoughts, and I'll continue to update this idea as we go.