USD JPYTHIS IS MY SETUP FOR USD JPY
I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3.
Trade carefully
This is not financial advice, DYOR.
Jpy
USDJPY Potential DownsidesHey Traders, in today's trading session we are monitoring USDJPY for a selling opportunity around 144.500 zone, USDJPY is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 144.500 support and resistance area.
Trade safe, Joe.
USD/JPY Forecast: Bullish Bias Expected – Key Factors to Watch.USD/JPY Forecast: Bullish Bias Expected – Key Factors to Watch (20/09/2024)
As we analyze the USD/JPY pair on 20/09/2024, the outlook appears to be slightly bullish for this week and next. Several key drivers are pushing the U.S. dollar higher against the Japanese yen, creating an attractive opportunity for traders. In this article, we’ll break down the fundamental factors behind this forecast and highlight the elements influencing USD/JPY price action in the coming days.
1. US Dollar Strength Bolsters USD/JPY
The strength of the U.S. dollar is a critical factor contributing to the bullish bias in USD/JPY. With the Federal Reserve signaling a commitment to maintaining high interest rates for an extended period, the greenback remains in demand. Fed officials have recently emphasized their concerns about persistent inflation, leading markets to believe that U.S. interest rates will stay elevated for longer than previously expected.
This hawkish monetary stance, coupled with strong economic data, has made the U.S. dollar more attractive to investors. As a result, USD/JPY has been moving higher, with the strong dollar likely to continue exerting upward pressure on the pair.
Key SEO keywords: USD/JPY forecast, US dollar strength, Federal Reserve policy, interest rate hike, USD/JPY price action.
2. Dovish Bank of Japan Keeps the Yen Weak
On the other side of the equation, the Japanese yen remains under pressure due to the Bank of Japan’s (BoJ) ultra-loose monetary policy. The BoJ has shown no signs of tightening monetary policy in the near term, despite global inflationary trends. Japan’s central bank continues to prioritize economic support, maintaining low interest rates while avoiding any drastic policy shifts.
This dovish stance contrasts sharply with the Federal Reserve’s hawkish policy, widening the interest rate differential between the U.S. and Japan. This is a major driver of USD/JPY’s bullish outlook, as investors gravitate towards the higher-yielding U.S. dollar over the lower-yielding yen.
Key SEO keywords: Bank of Japan policy, Japanese yen weakness, dovish BoJ, USD/JPY interest rate differential, yen depreciation.
3. Interest Rate Differentials Favor USD/JPY Upside
One of the most important factors pushing USD/JPY higher is the widening interest rate differential between the U.S. and Japan. While U.S. Treasury yields remain attractive, the yield on Japanese government bonds remains low due to the BoJ’s dovish policy stance. This gap in yields makes the U.S. dollar more appealing for investors seeking better returns.
The widening interest rate gap is a key bullish signal for USD/JPY, as capital continues to flow into U.S. dollar-denominated assets. As long as the Federal Reserve maintains its hawkish tone, and the BoJ remains accommodative, this dynamic will likely support the bullish bias for USD/JPY.
Key SEO keywords: Interest rate differentials, U.S. Treasury yields, Japanese bond yields, USD/JPY bullish outlook, capital flows into USD.
4. Japanese Economic Weakness Adding Pressure on the Yen
Another factor supporting the bullish bias for USD/JPY is the ongoing weakness in the Japanese economy. Japan has struggled with slow economic growth and weak inflation, further justifying the BoJ’s cautious approach to monetary policy. Domestic consumption remains low, and Japan’s economic recovery has been uneven.
As a result, the Japanese yen continues to face downside pressure, while the U.S. dollar benefits from stronger economic fundamentals. This divergence between the U.S. and Japanese economies adds to the case for a stronger USD/JPY in the coming weeks.
Key SEO keywords: Japanese economic weakness, low inflation in Japan, weak yen, Bank of Japan policy, USD/JPY forecast.
5. USD/JPY Technical Analysis Suggests Further Upside Potential
From a technical standpoint, USD/JPY is showing signs of further upside. The pair has been testing key resistance levels, and if these levels are broken, we could see a more significant bullish move. The recent price action has shown strength, with USD/JPY consistently finding support at higher lows.
Traders should watch for a potential breakout above these resistance zones, as it could signal further gains for USD/JPY. With strong fundamentals supporting the pair, the technical outlook aligns with the overall bullish bias.
Key SEO keywords: USD/JPY technical analysis, key resistance levels, USD/JPY price action, bullish trend, support and resistance.
Conclusion: Bullish Bias Expected for USD/JPY
In conclusion, several fundamental and technical factors support a slightly bullish bias for USD/JPY over the next couple of weeks. The ongoing strength of the U.S. dollar, the dovish stance of the Bank of Japan, favorable interest rate differentials, and Japan’s economic challenges all point towards further upside potential for USD/JPY.
Traders and investors should closely monitor these key drivers as they make their trading decisions. As always, staying updated on central bank policies, economic data, and technical signals will be crucial in navigating the USD/JPY price action during this period.
Key SEO keywords: USD/JPY forecast, bullish bias, USD/JPY key drivers, US dollar strength, Bank of Japan policy, interest rate differential, USD/JPY technical analysis.
GBPJPY | 15m TF Bearish SetupOANDA:GBPJPY looks good to short based on downtrend pattern and order blocks, you can see liquidity being cleared out on both ways too on the 15 minute timeframe.
Falling towards 61.8% Fibonacci support?USD/JPY is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 141.30
Why we like it:
There is a pullback support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 139.61
Why we like it:
There is a pullback support level.
Take profit: 143.67
Why we like it:
There is an overlap resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Falling towards major overlap support?NZD/JPY is falling towards the pivot which which is an overlap support and could bounce to the 1st resistance.
Pivot: 88.22
1st Support: 87.15
1st Resistance: 90.24
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?CAD/JPY has reacted off the pivot which has been identified as a pullback resistance and could drop to the 1st support level which acts as an overlap support.
Pivot: 105.88
1st Support: 103.73
1st Resistance: 106.85
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could price reverse from here?EUR/JPY is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 159.52
Why we like it:
There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 161.22
Why we like it:
There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement.
Take profit: 157.48
Why we like it:
There is an overlap support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Fed's Bold Rate Cut Raises Stakes for BoE and BoJ Both the Bank of England (BoE) and Bank of Japan (BoJ) are not expected to cut interest rates at their respective meetings today and tomorrow.
The US Federal Reserve just chose to cut its own rate by 50 basis points. So, how might the BoE and BoJ decisions be affected?
Bank of America projects the BoE will leave its Bank Rate at 5.0%, with the pound potentially gaining. However, gains could be capped if policymakers lean dovish. Additionally, a currency strategy note from HSBC says that the sharp appreciation of the British pound against the U.S. dollar may be nearing its limits.
Masamichi Adachi, chief Japan economist at UBS Securities, cautioned that if the BoJ raises rates Friday, just days after the Fed's rate cut, “markets would likely face increased turbulence.”
WEEKLY FOREX FORECAST SEPT 16-20 USD EUR GBP AUD NZD CAD CHF JPYThis is Part 2 of the Weekly Forex Forecast for SEPT 16-20th.
In this video, we will cover:
USD Index, EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, USDJPY
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
I appreciate any feedback from my viewers!
Like and/or subscribe if you want more accurate analysis.
Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
CADJPY 1HR BEARISH SETUP (SELLSIDE & BUYSIDE LIQUIDITY)ICMARKETS:CADJPY looks good for a bearish setup on 15 minute and 1 hour time frame, the buy order block and sell order block is the key role in this trade.
IF IT BOUNCES FROM THE FVG AREA TRADE WILL BE INVALIDATED AND WE WILL SHORT FROM THE STRONG HIGH ZONE
JPY Futures Drop as Fed Rate Cut Speculation GrowsJPY futures have fallen below the 0.007134 level, driven by rising speculation of significant interest rate cuts from the Federal Reserve. As market participants brace for potential monetary easing, the U.S. dollar has faced increased pressure, leading to weakness across several pairs, including JPY. Investors expect the Fed to reduce interest rates by up to 100 basis points by the end of the year, which has become a key factor influencing the broader currency market.
Key Market Dynamics: Fed and BoJ Rate Expectations
The growing belief that the Federal Reserve will pursue aggressive rate cuts has been weighing heavily on the U.S. dollar, with many anticipating a softer policy stance in response to slowing economic growth and inflation concerns. This dovish outlook has provided some support for the yen, even as Japan’s economic conditions remain stable.
Meanwhile, the Bank of Japan (BoJ) is expected to maintain its interest rates steady at 0.25% when it meets on Friday. While the BoJ has been cautious with rate adjustments, keeping its ultra-low rate policy in place, the potential disparity between the Fed’s and BoJ’s stances could further impact JPY futures in the coming days.
Technical Outlook: Rebound from Supply Area Signals Bearish Sentiment
From a technical perspective, JPY futures have rebounded off a key supply area, a zone that has previously acted as resistance. The latest Commitment of Traders (COT) report paints a divided picture, with retail traders showing extreme bullishness on the yen, suggesting expectations of further strength. However, institutional investors, often referred to as “smart money,” remain strongly bearish on the currency, signaling their belief that the recent uptick may be short-lived.
This divergence in sentiment provides a clear opportunity for a short position, as the bearish outlook from institutional players suggests that the yen could face downward pressure once the initial bullish momentum subsides.
Looking Ahead: Short Position Setup
Given the current technical setup and the wider macroeconomic backdrop, we are positioning for a short trade on JPY futures. With the price having already bounced off a significant supply area and smart money positioning heavily on the bearish side, a reversal looks increasingly likely. Furthermore, if the Fed’s anticipated rate cuts materialize, the U.S. dollar could stabilize or even rebound, adding further downside pressure to JPY futures.
In the meantime, all eyes will be on the Federal Reserve and the Bank of Japan's respective decisions, as they will be the critical drivers of yen movement in the short term.
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USD/JPY Price Analysis (1H)The price of USD/JPY is currently approaching a support level and could be setting up for a pullback. If it bounces off this support, we could see a potential upward move. However, if the support is broken, the next target could be the next support level
Key scenarios to watch:
If the price bounces back from the support, it may signal a reversal.
If the price breaks out below the support, it could move toward the next support level.
Let’s monitor closely and see how it develops!
Bullish reversal?USD/JPY is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 140.92
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
Stop loss: 139.83
Why we like it:
There is a pullback support level.
Take profit: 142.72
Why we like it:
There is an overlap resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Falling towards 50% Fibonacci support?CAD/JPY is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance level.
Pivot: 103.73
1st Support: 102.81
1st Resistance: 105.22
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards pullback support?AUD/JPY is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance level which is a pullback resistance.
Pivot: 95.59
1st Support: 94.20
1st Resistance: 97.52
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off the 38.2% Fibonacci resistance?NZD/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support which is an overlap support.
Pivot: 88.22
1st Support: 86.65
1st Resistance: 89.27
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?GBP/JPY has reacted off the resistance level that is an overlap resistance that is slightly above the 23.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 186.48
Why we like it:
There is an overlap resistance level that is slightly above the 23.6% Fibonacci retracement.
Stop loss: 189.15
Why we like it:
There is an overlap resistance level that is slightly below the 61.8% Fibonacci retracement.
Take profit: 183.16
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USDJPY Long - But Don't Long Too EarlyBased on the prior price action, people are desperate to finally see some green candles. Psychologic wise they might think "it can't get even lower, it needs to reverse now". However, especially USDJPY is one of those pairs who tend to be a brutal liquidity seeker. Based on the news events this week, I believe there is a nice chance that we see a bounce, but from lower levels people are anticipating right now. We need to shift sentiment and lurk them into the wrong direction before we can have that up movement.
Bullish reversal?USD/JPY is falling towards the support level which is an overlap support that is slightly above the 61.8% Fibonacci projection and could bounce from this level to our take profit.
Entry: 138
Why we like it:
There is an overlap support level that is slightly above the 61.8% Fibonacci projection.
Stop loss: 133.39
Why we like it:
There is a pullback support level that lines up with the 78.6% Fibonacci projection.
Take profit: 144.18
Why we like it:
There is a pullback resistance level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
GBPJPY 1hr TF Bullish Setup (Weak Low + Double Bottom + -OB)ICMARKETS:GBPJPY looks bullish considering we jump in at the double bottom where market structure will shit (Break of Structure) which is also a weak low, from there we can see the target being just below the negative order block. SL is tight for this setup to minimize risk whereas reward ratio is 6RR.
USDJPY Breakout And Potential RetraceHey Traders, in tomorrow's trading session we are monitoring USDJPY for a buying opportunity around 140.400 zone, USDJPY was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 140.400 support and resistance zone.
Trade safe, Joe.
