USD/JPY – 114 Is Possible – 5/16/2018

USD/JPY – 114 Is Possible – 5/16/2018

Rising US Treasury yields are giving the much needed thrust to USD/JPY.  Historically USD/JPY has decent correlation with 10 yr US treasury yields.  If the yields and stock market move in sync for next few sessions then, along with high point in stock market, near 3.50 in yield can put USD/JPY quickly near 114/115 level.

Instead of holding and building the position passionately, I will be looking to trade it from buyside -Mostly intraday.

USDJPY_Weekly_Chart_May_16_2018

USDJPY_Weekly_Chart_May_16_2018