USDJPY has been consolidating after a big move upward which was resisted @ 106.40-46 price level.
After todays surge upwards which broke the 106.40-46 level we begin to see that buyers are starting to take over the market. Also if we zoom out onto the daily we can see that there is a bullish engulfing candle which is significant as it also backs up our analysis that buyers are taking over on multiple timeframes.
After todays surge upwards which broke the 106.40-46 level we begin to see that buyers are starting to take over the market. Also if we zoom out onto the daily we can see that there is a bullish engulfing candle which is significant as it also backs up our analysis that buyers are taking over on multiple timeframes.