Sforex
Long

Idea for U/J next week.

FX:USDJPY   U.S. Dollar/Japanese Yen
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Idea for next week ( U/J)

- I predicted U/J would retrace to 99.40 and then moved to 101 level.

So what next ?.

Next week, there is no data for USA, but JPY has two main events.
- BOJ Minutes on Monday
- CPI             on Thursday.

Yesterday, BOJ announced that they will keep monetary policies unchanged.

I think nothing new in BOJ Minutes.

I concentrate in CPI             (YoY). BOJ said that they wanted to see CPI             reached 2% in 2015.
If CPI             is good,the advance of U./J will be strengthened.

Like I said, two elements affect U/J are:
- Nikkei 225            
-US 10 years T-Bond             .

Both are on the run higher. If FED unchanges monetary policy , no taper next months, Dow Jones , S&P             rise --->; Nikkei 225             rise --->; U/J rallies.
I think U/J will test 102 zone in next week. So I choose Long position, but be careful, 101zone is a very strong resistance level . U/J might retrace a little bit , i think U/J could retrace to 100.40 and then rally again to 102.

I don't have much ideas for technical analysis , simply U/Y is on the trend. Bullish trend .

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in my opinion, there is one reason making U/J is bearish : Consumption tax hike.

I will monitor the effect of Japan consumption tax on Japan economy in next months.
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Going down
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Confirm U/J touched 102 level. exactly.
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You must have made some good pips. Good job I must say.
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