Good morning traders!
USD was mostly lower in Asian trade while JPY is one of the strongest. USDJPY fell nicely towards our 104.00 projected target for wave C where we will look for evidence of a new turn. As always it’s very important to wait on a confirming price action, with an impulsive reaction through 105.43 area before we may call a bottom. If that leg up would occur, then we would consider to join the uptrend especially if we also consider a bearish structure on 10 year US notes. However on 10 year there is room for 133’00 before big downtrend may resume.
USDJPY, 1H
10 Year US Notes, 4H
