FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY

We have a strong, impulsive move to the downside on this pair and the bears still have the momentum. If price closes beneath the .382 on the FIb we could see a continuation of this trend until the .50 Fib is reached. We have a few rejections at the highs so there is a good chance that we may see a retest this week.

We could also see a rejection at our intermediate support level. From that area, It is possible for a rejection to form, leading price to retest the highs.

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