Over the past 6 weeks, USD/JPY has had a tremendous run. On Feb 1, it was trading at 76 and today, it rose above 83.50. This 7.5 yen move impressed everyone, particularly given the lack of meaningful correction. But the burning question in everyone’s minds is how much further can USD/JPY rise. A [...]

Posted in Japanese Yen, forex blog, usd/jpy, usdjpy ichimoku cloud 1 Comment »

Last week, I was all over the weekly cloud cover break in USD/JPY (see chart one), talking about how important it is and why further gains are likely. It is a new month now and we have another important technical break on the monthly chart (see chart 2). USD/JPY closed above its 20-month SMA. [...]

Posted in Forex News, Japanese Yen, usd/jpy No Comments »

USD/JPY has been on a tear since the beginning of the month in large part due to rising U.S. yields. Based on the following chart, the slope of the recent rally in USD/JPY is much steeper than the slope of the 2 year U.S. Treasury yield which suggests that either the run in [...]

Posted in 2010 japanese yen forecast, Japanese Yen, usd/jpy 2 Comments »

The first two trading days of 2011 has been very kind to USD/JPY. After falling for 2 weeks straight, USD/JPY has finally found a bottom. According to my 2011 Dollar outlook, improvements in U.S. data should help the dollar recover in the beginning of the year. So far, we have seen some [...]

Posted in 2010 japanese yen forecast, usd/jpy No Comments »

USDJPY is down on the day and it shouldn’t be surprising for those of you that have been watching yields. Since the beginning of the year, the USDJPY has had a 90 percent positive correlation with 10 year yields. Today, yields are down and accordingly, so is USDJPY. The big debate in [...]

Posted in forex blog, usd/jpy No Comments »