USD/JPY A buy as long as this holds…


The Japanese Yen is expected to weaken further vs the USD. RSI is unable to push lower and RSI is continuing higher on an upward trend, a breakout has occurred but follow through seems limited for now. Until the USDJPY can break below the longer term trend line dating back to the beginning of 2013 it makes no sense to fight this trend when we are so close to the trend line and still above it.

In the longer term USD should continue to rise against the JPY due to the fact that Japan may need to add more QE to strengthen their economy and the US is removing QE from their stimulus program.

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