USDJPY Cup and Handle - 3 year view.

320 1
116-118 will be a lot of choppy stalling with potential downside of 110.
Lower break will send UJ to 105.5 but I doubt it happening if dollar strength is real. Current OIL and DXY have come to a decision point to find out which is the true strength, my money's on Dollar.

Break below 99 will invalidate this idea.
TP 1 - 125
TP 2 - 130
TP 3 - 135
TP 4 - 140

Things to consider:

Sovereign bond crisis.
Bond capital flight into shares and commodities .
China housing and debt crisis.
European debt crisis - Italian bond and banking crisis.
European Union uncertainty - Further boosting of DXY from decline is EUR and GBP strength.
Japan stimulus and requirement of weak exchange rate. Upward momentum more likely due to favorability of a deflationary export nation.
thanks for your sharing.
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