I scaled out for a number just under 91. I'm going to step back from it for a bit because despite Governor Stevens trying to talk the AUD down the last batch of data has been solid. Japan's, too, but I think we're in for some more living within this broad range. Unless Russia blows up Ukraine and sends the flows to the Yen, but I doubt that.
@Petey -- As I mentioned for ForceFollower on another Yen chart of mine, the Yen is notoriously difficult for me to gauge its strength. Its trend is toward weakness, definitely, but so is the Aussie at the moment. Right now usd/jpy has held off USD advances at 102.60 four times but aud/usd is looking heavy and ready to move down. I would think if both broke (u/j higher; a/u lower) then this cross is likely to drift down. Also keep an eye on the situation in Ukraine. From what I see the headlines are overblown, but if something tips over there again the flows head to the Yen.
@ForceFollower - Again, you may be right. With this chart I'm definitely reaching more than I normally do. I like to see a trend on RSI and the cross, or, at the best, convergence/divergence. We'll see, though.
Hi mate, been following you quietly on here! Nice to chat. I actually took a short in this from 92.43 looking for 91.60 on the way to 91.60 which we are close to getting. As far as beta JPY crosses go I think people are really watching the 102 UJ level. I think long JPY could work well over the next couple days/2 weeks. What do you think?