USD/JPY has been consolidating in a narrow range of 145-147 for the past three weeks. The pair is demonstrating an accumulation and should breakout soon. The reversal zone is a big potential, at least for 100 pips.
The hurdle for raising rates this month is higher, implying the possibility for US Dollar falls.
Next stronger reversal zone possibility is at around 148.80, but light shorts right now can be placed.
The hurdle for raising rates this month is higher, implying the possibility for US Dollar falls.
Next stronger reversal zone possibility is at around 148.80, but light shorts right now can be placed.
Comment:
Targets achieved, exit for gains.