running out of juice #usdjpy

FX:USDJPY   U.S. Dollar / Japanese Yen
118 1 1
USDJPY             is running into a multi-year trendline as resistance. Pitchfork intersects with trendline ~108 with RSI over 70. Remember what Kuroda said years ago. As long as its trading >100, there are no worries. On the other hand, Japanese exporters are getting squeezed at 94, but at the same time, energy import costs are hurting.
They are walking a tight line and something has got to give. Cycle line beginning in 7/08-3/11 indicates change at the beginning of December. I just can't chase Yen up giving the risk/reward setup.
Who Knows? We could hit that 110 with a nasty fake But then I wanna see 96 ; )
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