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Our Yen Targets 104.60 and 103.50 on Key Factors

Our Yen Target is 103.50 on a Variety of Factors

Since Obon holiday we have placed a circle around 103.50 in USDJPY. More recently the collective weight of AUDJPY, EURJPY and of course USDJPY and the safe haven status in Yen triggered by the call by President Trump for US firms to leave China, are factors that made those charts turn so negative.

I am still looking for USDJPY to fade and break that 105.40 support then fall several big figures to 103.50 or perhaps lower. US yield curve, safe haven, Japanese importers and Japanese Life companies will likely be strong participants in Yen and Yen crosses in the coming week, so for short-term views, USDJPY falls below 104.50.

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