- We can see on the chart, U/J reached the key : 103.8. It's also 38.2% Fib Retracement I show on the chart.
The question is: Whether it would break this key support or bounce back ?
I think U/J found its fair value in the range : 105.4 ----103.8. I don't think U/J breaks 103.8 level this week even bad US economic data.
The advance of USDJPY need dynamic from NIKKEI225. Japan economic data seem very positive due to the support from BoJ .
Next week,I still keep my LONG USDJPY view:
LONG USDJPY to 104.8 level. Stop Loss at 103