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USD/JPY - Anticipating a Cyclical Bull Swing

On the daily chart, USD/JPY is seen bouncing off general channel support area. It was also coming off the March low established at the beginning of month, near 101.20. 


(USD/JPY Daily Chart)

Note that the stochastic in the daily chart is below 20 but is starting to crossover. The RSI meanwhile was at 40 and is bouncing off it. This S20-R40 combination warns of a bull swing ahead. 

The bull swings so far since February have been limited in the context of consolidation. The one we had at the beginning of March looked like it was going to put in a bottom and continue the prevailing bullish trend. Let's see if we get another attempt that that this coming week.