USDJPY: 101.25-101.5 area remain important.

FX:USDJPY   U.S. Dollar / Japanese Yen
108 2 0
USDJPY             pair is still holding 101.5 as a support level . This support level is important and rather solid however, one should carefully watch the zone between 101.25 and 101.5.
Indicators show that there is still a room for the downside, but we would be at an oversold level, i.e market would react immediatly on the upside.
Therefore as far as 101.5 is holding, the headline goal remain the same.
On the daily chart the trading range remain 101.5-103.5.
Dear Mustard, as you have seen today, we are July 14th, 101.3 hold tight and it is a serious support level and we are heading towards 101.5-101.75 etc...
Currently watching a potential bullish Butterfly forming on the hourly chart, with the CD leg completing at 100.95.

However, the descending triangle on the daily chart suggests this pair may dip lower soon.

Green pips buddy.
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