USDJPY appears to be in what can only be said to be a rather complex corrective pattern in the bigger picture. However it does present some substantial trading opportunities. Current price is viewed as preparation for a bounce towards 115 area first. Close above there will target the 120 area as next realistic resistance.
However we expect to see some price consolidation at current levels going into the week. Positive daily close back above black support turned resistance line will signal resumption of movement toward the 115 area first as perceived.
However we expect to see some price consolidation at current levels going into the week. Positive daily close back above black support turned resistance line will signal resumption of movement toward the 115 area first as perceived.
