Usd/jpy - page 6
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UJ getting closer to Demand zone
May be a good place to consider longs
This chart can be useful for making an assessment on how much one currency is over over/underestimated compared to the average in 10 years. Still a long way to go for the Yen.
What the BOJ should avoid is to allow EurJpy to fall below 125.
Since the beginning of this week, this market has been moving upwards. Initially, it was a gradual bullish move, but it has now been a significant upwards thrust since Wednesday.
This move made more good for Abe than Abe itself
The bearish movement of UsdJpy has developed into 5 waves. The current one is a correction that is not going to last over 99.30. Stay bearish, target 90
The indicators and price action support the view of a northward bias on this pair, and it is highly expected that when there is breakout away from the current range, it would be towards the upside.
After the completion of the A-B-C correction, a new downward leg is preparing for UsdJpy.
Short UsdJpy: I will take advantage of the exceptional seasonality of Jpy in August.
The soft reaction of the market to the favorable electoral outcome for the Abe confirms my idea that Jpy is expected to strengthen in August.