YEN is set to weaken against the USD and has made a multy year low imo. USDJPY is now set to rise into 110 by/before Dec2015. Consistent JPY trade deficits forces BOJ to fund YEN expansion to kerb deflation = weaker YEN.
Cross pair AJ
AUDJPY = AUDUSD x USDJPY
So any rise/fall in $AUD will amplify the AUDJPY.
You might find this AUDJPY chart interesting.
AUDJPY direction coincide with AUDUSD main pair. From here, the inv H&S sets up the upside target if it breaks out as shown.
Many funs obviously using the 1983 float data as the starting point - this explains the H&S.
My strategy is buy USDJPY on dips, long bias prevails
AUDUSD is the risk. If $AU fails below $1.07 short $AU and $AJ. $AUD trade will be confirmed by $AJ break of setup.
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