NOTE: I did not read the chart by using "technical chart" but I am reading by "currency band vertical chart". Thus, they may be different of how the reading should be made.
Yorum
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Risk remains to be seen
Yorum
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The risk on this long trade is higher and the USDJPY likely will be pressured down until JPY-band is fully turned to upward. New long trade will be re-established by cutting the current lost.
Yorum
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The JPY-based lower bands are aligning to downward and pressured by USD-based band. At such, long trade remains to be at high risk.
i draw your attention on the following : market is trying to bring us toward "king dollar" ... and "yen emperor", usd is going to recover sharply against all currencies BUT not against the jpy. behind all of this is the tricky and hidden in shadow eurjpy which has managed to trapped now a majority of buying interests (the first time in more than one year), big players will happily slaughter these positions now buy pushing it down more and more, so we will have eurusd down and usdjpy down OR (but it would be very surprising) usdjpy up and eurusd extremely down to overcome the up in usdjpy and have a product that is down at the end.
Johanes
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@lapin_eliott, JPY has been stronger in multi-years on USD by the result of carry trading activity. Similarly, CHF has been stronger than USD for hundred years by carry trading activity. USD only strong in "medium term" but weaker in long term (check your US Index).