Could the USDJPY correct further to the downside, with DXY weakness dragging it lower?
Despite potential downside on the USDJPY, i'd still prefer to look for buying opportunities while the BOJ's monetary policy continues to diverge from the FOMC. (who knows how long this will last)
Look for a potential bounce on the USDJPY a the 149.60 (interim support and 23.6% fib retracement) or 148.70 (key support level and 38.2% fib retracement area)
Despite potential downside on the USDJPY, i'd still prefer to look for buying opportunities while the BOJ's monetary policy continues to diverge from the FOMC. (who knows how long this will last)
Look for a potential bounce on the USDJPY a the 149.60 (interim support and 23.6% fib retracement) or 148.70 (key support level and 38.2% fib retracement area)
