A change of momentum?
USDJPYJPY has been massively oversold on all fronts and USDJPY is no exception.We have seen the start of a trend reversal now which has been overdue, supported by the high volume and the pause now as bears wait for their next move.
Expect some support at 120.6 before returning to the 2016 highs of 118.7.
USDJPY has skipped many resistance lines in its latest bull run and as we all know - what goes up, must come down.
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