Is The Mother Of All Bulls Retuning to Japanese Yen Soon ?

These days everyone is anticipating of a gigantic Japanese sovereign bankruptcy. You know their arguments right? Japan is very old. Japan has a ton of government debt. Japanese exporters aren't the powerhouses they used to be. And on and on the arguments go.

The Yen is now within a hair of a  15-year high against the dollar. When the dollar falls below 84.82, that's when it will have broken to an all-time low.

Many market "experts" are shouting at you to sell, sell, sell the Yen.(JPY is smaller than the USD, so when you read the chart, downward moves mean the Yen is strengthening. When it is going up , Yen is weakening)  You know me:- whenever those hip crowd get high ( I often think it could be due to those thousand dollars priced champagne they have been drinking)  , I start to look the other direction.

First  would look at the weekly chart where the almost double bottoms leaps into sight. The Stochastic is inside the oversold zone, but of course it does not mean that once it is oversold, it will start to rebound from here. I would like to see it crossing back up above the 20's line first . The MACD is still negative and continuing to fall. I also need to see this one cross back up. I take note that the ADX has now gone above both the D- and D+, but it is still rising. Once it starts to go flat and turn down, then it would usually be  an initial sign of an oversold market. Prices may continue to fall further to below its last low of 84.82 to bring in more blind bears for the slaughter.

The MACD may be already in the process of forming a divergence with prices. But I would need to see it to go back up before confirming a possible return of the great bull.

The daily chart is slightly more bullish as a very clear divergence has already formed at both the Stochastic and MACD. But I notice the MACD is still relatively far from its zero line, so I think the market could see some more downward/sideway moves before it is all over. ADX has gone above the D- but it is still rising. Once it starts to go flat, then I would start to pay some really intense attention to this market.

The signals to watch out for the return of the great Yen bull will be: prices go above the upper Bollinger Band , especially above its prior high of 88.11; MACD crosses up above the zero line;  Stochastic crosses up above the 50's signal line and the D+ crosses above the D-. 

As mentioned above, Yen is near its historic low, any reversal from here would be mother of all bulls.

An if you are interested in market conspiracy stories, you may be interested to know that the Chinese have been breaking records in  buying Japanese short term instruments. Could it being a precursor to stepping into Japanese equities?