Killy_Mel

MACRO VIEW: USDJPY HOLDS LONG TERM GROUND

FX:USDJPY   U.S. Dollar/Japanese Yen
Despite today's sharp selloff in the dollar, USDJPY             holds long term ground

The price held 1-year (264-day) mean standing at 117.60

The price also did not fail its relevant lows at 115.40

Thus USDJPY             is likely bounce back up now

However, risk of more downtrend remains as price trades below 1st standard deviation from quarterly (66-day) mean at 122.25
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