monthly shows mar closed at 23 fib level of the rally from 2012-2016. caution for those planning to short in month of april. would want to wait and see how april plays out before deciding if shorting is a viable trade direction. for now my trades for uj are still on the long end of the stick
Due to the number of tourists coming in from China I guess Japan is not worried about the YEN too much these days. The line at Osaka airport today was literally backed up to where you exited the plane!! Never ever seen so many people at the airport in Osaka.
UJ as at the verge of approaching 110.70 zone where intervention is expected. the way i read the PA, its been dropped slowly towards the 110.70 to test the BOJ reaction towards this level, if no major action then I expect heavy sell