Yen – Major Bottom In Place
•The Yen (JPYUSD) appears to have a major bottom in place.
•Upside potential is 100 (now 120).
•Weekly data is positive and improving while Monthly data slowly improves.
•Our work reflects market forces. We cannot forecast what Japan’s central bank will do, but our work shows that the most likely path for the Yen is higher if the market is left alone.
•The Euro is also improving vs. The US$, but more slowly. For now the greater upside potential appears to be the Yen.
•US 10 Year Yield – follow-up: Yield is still expected to rise to 2.5% and 2.75%.