Here are the reasons for shorting USDJPY
1) This is Yen weighted average. See where it is now. Basic formation rule suggest a bounce at the lower band of the .
2) Yen bonds bouncing and stronger Bonds means stronger Yen.
3) Yen Yields are pulling back
4) JXY breakout and now I am expecting a visit to the neckline
See on daily
Have a great weekend Friends.