The daily chart of the USD/JPY continues to have all the makings of an uptrend that is still developing. More dollar strength and more Dow strength will allow the 34EMA Wave to follow-through on the USD/JPY’s “twelve to two o’clock” trajectory that it’s currently on. The pair has sunk into the swing buy zone that I am willing to build a position as both the greenback and Dow are under pressure - triggering the yen strength. But this strength is a risk OFF play. Consider that the main headline out of Japan continues to be the one-trillion yen stimulus. Consider the recent comments from the former Ministry of Finance ... (full story)