17 August 2016 at 9:23 GMT
John J Hardy
The market is caught the 'wrong way around', according to Saxo Bank head of FX strategy John Hardy.
Dovish Fed measures had the market looking at selling the dollar, while the Fed's William Dudley says that the market is underestimating the potential for a Fed rate hike.
Hardy is looking to buy USDJPY with a target of 106.80 and a stop loss at 100.00.