Yen Technical Outlook

There is no change to the USDJPY analysis (which we have admittedly been wrong on for some time now).

We have tried catching this turn 3 times and each time the market has told us that we are wrong. Potential resistance extends to the 2/28 high; at 106.63. This is also a major congestion area. Ideally, a top forms before 107.20 (failure to do so would require us to reassess the longer term pattern).

Note: we are just as frustrated as many of you probably are…on the bright side, this is often the individual psychology that attends significant turns