USDJPY ready to break higher

FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
=> Here we are eyeballing a break of the long term trend line since 2015 finally unlocking 114. xx and 115. xx for a test.(edited)
=> With NFP today expected to overshoot we are going to see further USD strength and as a result the highs here remain naked for a test and sweep.
=> If we can comfortably take the 115. xx we are going to start tracking 2016 highs and beyond...
=> There is little to see to the downside, with all dips remaining competitive and little reason to buy JPY here.
=> GL all
This is the Daily Chart. Check that RSI support line pattern
I'm following this Chart closely aswell. We are in a nice bullish channel and this 200 ema should be a nice entry, even tho the daily chart tells me more selling pressure is coming due to its previous run. A tight stoploss would be ideal here.
ridethepig Raw_Blitz
@Raw_Blitz, => The headwind here is a hawkish BoJ ... this is coming to our theatres very soon. The risk-off flows have been coming from a different stream this time ... higher capital costs.
So ... What does this mean? Well US 10-year yields are reaching its highest level since 2011 as bond volatility breaks higher. US liquidity is finally rolling over and we are starting to see a steepening of the yield curve with QE in the rear view mirror. So yield differentials will be enough to keep the dollar in strong bid for now but the anchor may be removed via BoJ policies....
Raw_Blitz ridethepig
@ridethepig, I totally agree with you, but I like to have a look at it in a bigger picture, things have been booming for the US lately, as is the market. The S&P created new ATH, and failed to create another one last week, which is a sign for me. What im saying is, there is a new crisis coming and its gonna be a bad one. We, traders, all know that booming things have to retrace at one point, and I think the American economy just entered that stage, its still a very early phase but its a start. Don't forget that the best moment to make money is when others see blood on the streets.
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