Image Source: Unsplash

Japenese yen keeps weakening and that's why we see XXX/JPY FX cross pairs rising across the board. One of the main reasons are Japan's 10Yr yields, which are higher along with US's 10Yr yields, but both of them are now trading at strong resistance while finishing a corrective rally. So, if we are on the right path and if yields starts falling back below the channel support line, then it can limit the Yen weakness and may cause a recovery soon.

(Click on image to enlarge)

More By This Author:

Elliott Wave Video Update: GOLD, DAX And AUDUSD
Dollar Slows Down A Bit, But Not Bearish Yet
Put/Call Ratio Moves Into Extremes - Supportive For Stocks?