USDJPY is growing from the begining of september without larger correction. In the last days growth rate has decreased and USDJPY stay in local range 112.20-113.20. Today price break out up but it fast back to the range and now price drawing pinbar. All looks like price finally will breakout down, will make correction to support zone 110.70-111.00 and than will go to the resistance level at 114.30.
Completely agree, been waiting for the signal for correction and today plus N.Korea news has thrown one up. Selling to 111 and expect a bullish run there after
investsoft
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@allthevines9, I was expecting to USDJPY go upper to 114.30 but after NFP publication, false breakout and pinbar with long upper shadow it is more probable to breakout down. It also indicates the weakening momentum of growth.