A bit of a big call I know but I think it is gearing up for a big move higher. USD/JPY is in a holding range between 92/102 and the Japanese Govt will continue to try and jawbone the JPY weaker. EUR/USD continues to defy the critics and move higher. The reasoning here is twofold- holding USD does not make sense on any level and the market is overall bearish and short EUR. By the time sentiment has turned bullish and positioning has turned around, EUR/USD will be well into the 1.40’s.
I see USD/JPY back at 102 and EUR/USD at 1.47 over the next few months.