It appears the USDJPY perfectly obeyed the Ichimoku cloud on the monthly chart. Now that it has corrected into the 9 period moving average, the stochastic is starting to show a turn to the upside as well. These clues along with the still almost perfect correlation to the Nikkei 225 give me the impression we will see the start of the next leg up soon. If this fails, there is a long way down to go back to the 26 period moving average.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.