The US vs JP 10y yield spread made a new nine-month high at 2.44% as the market keeps pricing in the passage of the US tax reform bill.

We see a selling pressure on Japanese Yen. Today, during the Asia Session, BoJ will have monetary policy meeting, but it is expected to change nothing.

Technical Overview:

As I mentioned in my previous midterm forecast of USDJPY, 114.800 is the critical longterm resistance level.

On the daily chart, price moved above the cloud. Technical Indicators is telling us that Anka completed its midterm bearish bias.RSI moved into Bullish Territory. We probably will see the price testing 114.800 in a few weeks.




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