US2Y - US10Y spread which is continuously rising over the last 6 months. JXY which is the JPY index tracks the differential. The spread is a leading indicator.
The spread currenTly is at -0.5043 pips and it is rising towards its highest in last 5 years. JXY will therefore move from 91 to 100 in the next 3 months. USDJPY therefore has a target at 101 corresponding to JXY target. Remember JXY has ALWAYS followed the yield differential