HughGRection
Short

USDJPY due for fiscal cycle and statistical correction

FX:USDJPY   U.S. Dollar/Japanese Yen
178 1 0
- As the first month of Japan's fiscal year, out of the past 12 April's, 7 have seen a drop, 3 sideways movement, and only 2 have resulted in a meaningful rise.
- RSI is at an all time high in this range.
- Where we are now will result in a negative stochastic crossover for this month.
- Even a revert to mean will expose 90.
- There is also really nothing left the BOJ or Abe             could say to move the markets. It would require some committed immediate action at their next meeting to continue upward ( April             3/4th).

- It's always dangerous picking a top, but I would feel comfortable with a short in the 95-96 range.
Looking good so far. Well see what the BOJ says, but I'm looking towards 90.
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