Ujlong
Fundamentals haven't changed - in fact they've got better!Fundamentally, looking at global equities, data from the US, Fedspeak and Yellen's comments, USD should be trading much higher.
Why isn't it?
1) JPY-positive flows before the end of the Japanese fiscal year
2) 'Uncertainty' of the Trump administration
3) Profit taking at 115.00 - including option defending and strong sell interest
However, I view this as an excellent opportunity to get long USD against JPY and EUR - as yield differentials, dollar shortage and border-adjustment tax will likely resume the dollar uptrend.
Furthermore, Kuroda continues to welcome a lower yen. QQE with strong yield curve control continues in Japan.
HERE COMES UJ THE BULLUSDJPY has been in south range scenario over the most recent couple of months as it struggled with going underneath the equality level ( parity level:)
The USDJPY has pushed above trend line resistance just yesterday @ 102.0 level which equals to more bullish possibility. Hang on tight 'cos higher we go!