JPY currency band performance will be mixed at certain period of time and in harmony in another certain period of time and dependance to the performance of the other major currencies.
Both AUD/JPY and NZD/JPY will continue to move to upward direction/up-trending as illustrated in AUD and NZD currency band performance and forecasts. However, their upward movements are highly correlated to the performance of AUD/USD, NZD/USD and USD/JPY. The only risk associated to the upward direction performance is from USD/JPY.
AUD/JPY (See: AUD Currency Band Performance and Forecasts)
NZD/JPY (See: NZD Currency Band Performance and Forecasts)
EUR/JPY (See: EUR Currency Band Performance and Forecasts)
GBP/JPY (See: GBP CUrrency Band Performance and Forecasts)
After strongly defended at lower currency band (74.50), CAD/JPY moved to upward direction/up-trending and will continue to move to upward direction to the estimated upper currency band (85.00) for 1050 PIPs exchange rate target zone. The pair however unable to break the level of monthly highest average traded weighted rate at 78.00 and may revisit the lower currency band. But, should the pair strongly defended at the weekly highest average traded weighted rate (75.00), the pair will resume to move to upward direction to upper currency band. The estimated central currency band is 83.00 at which level the pair may under pressure to downward before the pair to be resumed to upward direction to visit the upper currency band. The performance of USD/JPY have strong correlation to CAD/JPY.
After strongly defended at lower currency band (80.50), CHF/JPY moved to upward direction/up-trending and will continue to move to upward direction to upper currency band (92.00) for 1150 PIPs exchange rate target zone. However, as long as the level of 84.00 not strongly broken and defended, the pair may move to downward to revisit the lower currency band. But, should the weekly highest average traded weighted rate at 81.50 to be strongly defended, the CHF/JPY will be consistently to move to upward direction to visit the upper currency band. The estimated central currency band is 90.00 at which level the pair may under pressure to downward direction before resumed to upward direction. The pair is currently at 83.60.
USD/JPY did not reach the previous lower currency band (77.00) and remains to move above the lower currency band within the disequilibrium trading zone. USD/JPY performance is mixed. By using time series currency band model of analysis, the pair will remains to be under pressure to downward direction to visit the previous lower currency band. However, the pair was defended at the level of 78.00 near the previous lower currency band and moved to upward direction by visiting the weekly highest average traded weighted rate at 79.70/80.00. And under pressure and strongly defended at 78.50. The pair may move to range bound at the level of 80.00 and 77.00. Unless the level of 80.50 to be strongly broken, USD/JPY remains to range bound and to downward direction. However, should the pair strongly to break the level of 80.50, then the pair will move to upward direction/up-trending and the 78.00 become the new lower currency band. AND SHOULD THIS TO OCCUR, USD/JPY is establishing long-term up-trending performance or JPY will be continuously to be weakened against USD for long-term trend. The performance of USD/JPY will have very strong correlation to all JPY-pairs until other and all major currencies pairs are strongly to move to upward direction at the same time of interval.
Long on EUR/JPY, GBP/JPY, CAD/JPY and USD/JPY could be very prospective dependance to the performance of USD/JPY.
