The U-Shape Bands confirm the pair to upward in long and medium term by alignment and re-alignment to upward. However, the pair is being sterilized at the same time EURUSD re-sterilized back. The EURJPY is the world's largest derivative pairs in circulation and the EURUSD is the world's largest in circulation by volumes. At such, their sterilization and re-sterilization require substantial effort by the central banks.
The EURJPY is estimated to be sterilized down to 128.50 and the actual rate subject to her equivalent rate with EURUSD and EURCHF at their lower short term bands. The EURJPY band has equivalent medium term performance band with EURUSD, EURCHF, GBPUSD, GBPJPY, GBPCHF. The differential performance between the EURUSD, EURJPY, EURCHF and the GBPUSD, GBPJPY, GBPCHF is represented by the performance of the EURGBP in the market.
Short trade from the short term high/low, monthly high/low, weekly high/low and the daily high/low is feasible to trade during the sterilization.
Komen
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Interrupted but resumed. Carry traders looking for off-takers for asset disposal.
Komen
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The 128.50 target not changed and is underway to target. Adjustment may be made, subject to on-going analysis and measurement.
@Mairita, Carry traders not wiling to dispose their assets
lapin_eliott
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@Mairita, you too are tired of these forecasts on eurjpy supposed to go down and it always fails .... :'( i just mentioned to AndyM where i have seen your posts too that it might be time to change his view on eurjpy but he did not appreciated and is mad at me now :S
lapin_eliott
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there is obviously no correction/sterilization to happen, BoJ and ECB cannot do anything as always
Johanes
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@lapin_eliott, Carry traders unwilling to dispose their assets