The Person's Proprietary Signal bull phase that showed this morning on the USD/JPY currency pair, has ghosting away, disappearing like the spring cherry blossom in Ueno Park, speaking as always to the impermanence of all things.
Also, to the strangeness (sometimes) of Person's Proprietary Signal.
The bull phase is unsupported by any price movement this week. I don't take it too seriously from a tech analysis standpoint. Fundamentally, bull phase is what is good with the Japanese economy: A rising dollar means a falling yen, and that means Japan's exports are more attractive. I'll bet the Bank of Japan is real eager to engineer such an outcome.
My earlier write-up was in the Forex report, which also took Reuters to task for mis-stating which currency was declining.
They've corrected their error. Glad you're paying attention, Reuters!
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