USD/JPY Quarterly chart

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Very long term, momentum shifting along with interest rate differentials and BOJ ultra easy monetary policy being punished. Pain could continue for sometime for the yen especially if there is a resurgence of inflation in the US. Long term DXY chart remains bullish and dollar smile needs to be considered, current US economic relative strength but even if there is a US recession dollar would be expected to remain strong as part of a risk off/haven move.