As we head higher in US yields; prepare for a Fed rate hike in December; retain some possibility of renewed Japan stimulus and expect a US Equity market “melt up” into year end, the picture looks constructive for a push higher in USDJPY. We have already confirmed one double bottom with a daily close above 104.32, and that pattern target gains towards 108.50. Such a move, if seen would open up the possibility of a larger double bottom forming /55 day moving average break on a close above 107.40-50 Such a close, if seen, would suggest extended gains towards 114-116. At this point, while we think it is very possible to ... (full story)