USD/JPY Upside Risk to 103.40/45; Bull Shift Seen Through 103.70
As expected a still better effort on Monday having stated in our last report that "we now see a constructive bias with early April skewed risk for a push above 103.00/05 and maybe a test to 103.70."
The strong rally last week from ahead of key supports at 101.20 above bullish failure peaks at 102.70 sees risk of a still more bullish shift into early April.
We still see the broader Feb-March non-trend theme as dominant, simply defined by 101.20 and 103.70, but with threat for a bull breakout.
WHAT CHANGES THIS?
Upside: Above 103.70 signals a bull shift for 104.85/90 maybe 105.35/45 highs.
Downside: Below 101.20 re-energizes bear forces through 100.75/60 chart/ retrace/ 200-DMA supports.
Please see full report with levels and latest audio-visual analysis here:
