Is this the start of the Yen weaken compare to US dollar. The USDJPY daily chart has stop declining this week . The USDJPY has reach the monthly target S2 early of the month, according to Pivot theory it will come back to monthly pivot about 112.59 area. As the repatriation of money flow of big Japanese corporation to Japan tapering off . USDJPY will slowly climbing up
Look further to 4H chart. nice continuation further up to 55 EMA will be what aiming for another 100 pips up to 109.50 area. This all will happen if the tapering of yen moving back to Japan is happening. The Commitment of Traders Report: Total Non-Hedging FX Open Positions COT shown that there is a slight increase of JPY short position compare to last week , also there is slight increase of long position due large Japanese corporation repatriation money flow back to Japan.
If USDJPY slowly climbing up. The weaker Yen will fuel up the Yen pair . especially the commodity pair that has yield like AUDJPY and NZDJPY .