$USDJPY: Weekly trend signal points to a steady advance

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USDJPY has a new trend continuation signal here, weekly and daily trends are bullish, as well as monthly, quarterly and even yearly. Energy and bonds suggest we will see rising yields for longer, FX looks like the dollar has ample reasons to remain bid and the BOJ and ECB are the weakest central banks here, relatively vs the Fed's policy stance, as well as from a macro standpoint as energy importers facing an energy crunch, which is bound to be negative variable as well. I'm long UUP calls and short NZDUSD, adding some USDJPY exposure here to remain exposed to the dollar trend.

Cheers,

Ivan Labrie.
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Approaching target #1 in the weekly chart. I'll watch it closely, at some point it might make sense to sell calls against it, when the weekly time expires perhaps.
The quarterly/yearly target is substantially higher, I wouldn't want to rush out of longs prematurely as this is a rather structural trend, from a fundamental perspective.
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I will wait and see what happens tomorrow with the ECB rate decision. Out of all FX positions, locked in a 5.07R gain.
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Note that the predicted weekly expiration date for the signal in this post was the exact high! (also topped precisely at the white box target which corresponded to a quarterly/yearly trend).
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Beyond Technical AnalysisbojChart PatternsecbForexkeyhiddenlevelslabrietradingtimeatmodeTrend AnalysisUSDJPY

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