The pair is lying around the very round and symbolic number of 100. I see no signs of price breaking and establishing itself below the 100 level. The 98 level is for me the absolute bottom of the pair, as for now.
Fundamentally there are possibilities of BOJ intervening against the JPY? Are the market pricing in increased possibility of US rate increase? All speculation and plays a very small part of the picture for me.
I expect the JPY to weaken considerably in all pairs. Also I expect the USD to strengthen against most currencies. This is based on purely technical analysis. It might take 1-3 weeks to pan out.
Fundamentally there are possibilities of BOJ intervening against the JPY? Are the market pricing in increased possibility of US rate increase? All speculation and plays a very small part of the picture for me.
I expect the JPY to weaken considerably in all pairs. Also I expect the USD to strengthen against most currencies. This is based on purely technical analysis. It might take 1-3 weeks to pan out.