USDJPY has created an initial pattern of a daily downtrend. If a rebound fails in the daily demand zone below, a daily downtrend could follow. If that happens, it can drop to around the weekly demand or monthly demand zone. Since EURUSD has rebounded in an expected monthly correction process, USDJPY is also expected to undergo a monthly correction process.
Keep an eye out for a rebound or break below the daily demand zone.
Keep an eye out for a rebound or break below the daily demand zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.