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

 

20160413 USDJPY day

 

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.

 

20160413 USDJPY 4H

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 .

 

happy trading

 

 

 

 

One thought on “USDJPY Formed a bottom at monthly S2 area 13 April,2016”

  1. Ryan Gandalf van Jaarsveld says:

    Your plan on AUDJPY was spot on yesterday – also more positive data out of China last night…

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