ppp7
Long

Continuation in Bullish momentum for the USDJPY

FX_IDC:USDJPY   US DOLLAR / YEN
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.
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