Thanks for increase of 10 years T-Bond.
That is the trigger for U/J takes advance above 100.
Look at in the chart:
We see:
- U/J move above SMA 50,EMA 50, SMA 20
- Especially, U/J moves above SMA 100. This is a strong support.
- SMA 200 is the long term support. We saw U/J touched this support and then bounce from that support.
In the long term, U/J is very hard to break SMA 200 because BoJ is keeping their monetary policies. They want JPY devalue to support export, and they still print more money to devalue JPY.
So, I think next week, U/J move to the resistance 100, base on good news from US : recover of US economy and 10 years T-Bond.
That is the trigger for U/J takes advance above 100.
Look at in the chart:
We see:
- U/J move above SMA 50,EMA 50, SMA 20
- Especially, U/J moves above SMA 100. This is a strong support.
- SMA 200 is the long term support. We saw U/J touched this support and then bounce from that support.
In the long term, U/J is very hard to break SMA 200 because BoJ is keeping their monetary policies. They want JPY devalue to support export, and they still print more money to devalue JPY.
So, I think next week, U/J move to the resistance 100, base on good news from US : recover of US economy and 10 years T-Bond.