Global markets turn to be positive in stocks markets - will usdjpy respond accordingly?

Global markets turn to be positive in stocks markets -  will usdjpy respond accordingly?

there was reported that the government will inject JPY 6T in direct spending with the stimulus package. That was double of the original expectation. However, the spreading will be spread over a few years. That suggested that a much lower initial impact to the economy. Indirectly, the news suggested that BoJ might announce a less than expected easing later this Friday Monetary Policy Statement
8:00am JPY
BOJ Outlook Report
then we will probably get answers

USD/JPY

now let’s test the Technical side: 
USD/JPY dips sharply from last week * after the bıg rally sınce 11,8,2015                                       from lookıng the charts we can see some poınts: pattern who show in 2008 –if this story repeat so we should expect to see the usdjpy go to 113 areas, as long the usdjpy remain above 102.60-106.30 support the trend is still positive
 On the upside, we need to see the pair cross up again 106.20 area, after above 107.20 will revive the case of trend reversal and target 113-4 resistance. Though, on the downside   break of 102.60 will argue that larger down trend is still in progress and will turn bias back to the downside for retesting 98.97 low and even lower to 96 area

usdjpy 

cot trade

 

jpy cot

jpy position

Final words:
my expection to see the usdjpy test again support area 102.60-103.30, and after it will continue to rise all the way above 106.20 to the 113-114 area 

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice