I was a bit too early with my call last time on JPY. Now the technical setups improved a lot and my opinion is still the same. JPY should be ready for a major bounce to the upside soon. Most of the major JPY currency charts look like the one below. I actually expect NZD/JPY to cut through the lower light blue trend line in the medium term. NZD/JPY used to be highly correlated with equities. We might enter a risk-off phase soon again?!
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