USDJPY & 200 DMA Signal
![Usdjpy 200 Dmas Dec 15 2023 USDJPY & 200 DMA Signal - Usdjpy 200 Dmas Dec 15 2023 (Chart 1)](/content/images/forex-news/usdjpy-200-dmas-dec-15-2023.jpg)
Does the latest re-break below the 200-DMA pave the way for further downside in USDJPY ? Regardless of whether the BoJ normalises (or hints at) normalizing yield curve control at next week's policy meeting, the decision to terminate it in 2024 is inevitable. 2023 will see USDJPY complete its 3rd consecutive year of being the weakest performing G10 currency. Imagine that…3 straight years of being the worst currency. Taking another close look at the above chart, will tell you something about 5% extension below the 200-DMA. This explains our recent use of "smaller+further" trading strategy for such set-ups for the WhatsApp Broadcast Group.
I usually tell people what and how we did with the WGP after major events. On Wednesday, the second I saw the Fed Dot Plot called 4.6% FF for 2024 (3 three rate cuts) I jumped on USDJPY short. No, i did not focus on Long AUDUSD or Long EURUSD..it was all Short USDJPY and Long XAUUSD. Result: Not only "Short USDJPY" was the best combo trade of Wednesday, but of the entire week (USD weakest and JPY strongest).
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