In last Friday's USD JPY Delta update, I said that there's a possible ITD 1 inversion but I am leaning towards no inversion and a rally from 89.127. That's obviously not the case here. Below is the ITD chart.
Currently there's no indication that ITD 2 low has been due at 88.563 (the low today). With MTD 8 due late compared to previous cycles, there's a possibility that the higher time frame LTD is travelling down, and therefore we may see more Yen strength in coming weeks.
