Carry Trade – Monthly Analysis

USD/JPY has reached levels not seen since 1986 in a move that was anticipated nearly three years ago, following the long-term path we outlined back then. The June monthly close made the setup even more important, adding several signals that deserve a deeper review. In a market full of noise, interventions, policy shifts, and constant speculation, the larger technical structure has continued to follow the same roadmap. In this analysis, we reassess USD/JPY through major currency dynamics, technical signals, and long-term structure to determine whether the bullish path still holds, what could invalidate it, and what may shape the pair’s next major move. CANDLES In several previous analyses, I noted that the June close could be epic. Indeed, USD/JPY closed June at a new century high, reaching levels not seen in the 2001–2100 period. The move produced strong bullish continuation and confirmation candles across the 1M, 2M, 3M, and 6M…