Forex: Seasonals in favour of JPY - TDS

With USD/JPY enjoying a 13 week winning streak, longest period since year 2005 when it rose for 12 weeks, but not as fast, “an unusually long spell of correction-free gains,” say Toronto based FX Team at TD Securities, last at 93.63, “Seasonal pressures trend against the USD and favour the JPY from February through mid- year and we think the JPY has already reflected a lot of policy changes that the BoJ is able or willing to make for the moment,” the analysts add.

RSI 14 in the USD/JPY weekly chart has got a level never seen before above 88.