The combining factors of BOJ easing, USD rally across the board and the upcoming events in the Euro makes for a weaker yen in general which means to be bullish on the USDJPY. The monthly chart confirms this and the picture is very clear on the weekly.
After the initial break out to the upside and then the subsequent consolidation the last 6-8 months, we are seeing another rally. As long as the trend-line holds (green line), expect this pair to continue push higher with a projected target of 128.50.
After the initial break out to the upside and then the subsequent consolidation the last 6-8 months, we are seeing another rally. As long as the trend-line holds (green line), expect this pair to continue push higher with a projected target of 128.50.
