USDJPY & EURJPY Movement repetition

USDJPY
Short remains the strategy and constant weekly program until low 140.00's trade. The downside potential for USDJPY is enormous. USDJPY short, medium and long term trades massive massive overbought. The target at 140.00's is bare minimum. For the week, USDJPY targets low 150.00's.


EURJPY
The EURJPY pair printed a fresh decade high to near 162.30 on Tuesday. The cross rallies further on the narrative that the European Central Bank (ECB) will keep interest rates higher for a longer period to bring down inflation to 2%.

Inflation in the Eurozone economy has softened to 2.9% but for stability near 2% a tight interest rate policy for a longer period is highly required. ECB President Christine Lagarde commented on Friday that higher interest rates for a long period would contribute to returning inflation to 2%.