According to UST 10YY yield which is currently below 2.75% and possible lower towards 2.5% leads to further USD weakness.
USDJPY made a new HH against the May 2013 high (103.7) at 105.4 in Dec. If price breaks below 102 heading toward important resistance at 101.24 we will see a bullish butterfly completion and long toward testing new high test. A long position which could extend to new high beyond 105.4. After Wed. FOMC we should see all the cards on table and act accordingly.
USDJPY made a new HH against the May 2013 high (103.7) at 105.4 in Dec. If price breaks below 102 heading toward important resistance at 101.24 we will see a bullish butterfly completion and long toward testing new high test. A long position which could extend to new high beyond 105.4. After Wed. FOMC we should see all the cards on table and act accordingly.