Published 29th November 2018

The USD/JPY probably started its last swing up. It is most likely completing a leading diagonal. The Elliott wave pattern is terminal and leads to a cyclical reversal within the next few weeks.

We have published our reasoning why we find the Swiss Franc attractive. The Japanese Yen is also a major borrowing currency for carry trades. Moreover, Japan is a big exporter and suffers from a slowdown in worldwide growth. The sentiment/position picture confirms our point of view. Market participants crowd towards the USD and dislike the yen generally. Hence, we have behavioral, technical, and fundamental factors signaling a cyclical trend change nearby.

The analysis above is a historical abstract of our USD/JPY Premium Analysis. Subscribers can access multiple timeframes, which are not displayed on this page.