USDJPY - Correction is showing signs of weakening
Correction on USDJPY is showing signs of weakening.
We have a higher high and price broke further above the top of the channel, producing a small daily rejection signal, but small compared to yesterdays Bullish Engulfing signal.
Price will likely head lower, either to the mid-channel or possibly to support at 113.00 and then bounce higher. A break and retest of the channel high would be the safest place to enter.
Daily
We have a higher high and price broke further above the top of the channel, producing a small daily rejection signal, but small compared to yesterdays Bullish Engulfing signal.
Price will likely head lower, either to the mid-channel or possibly to support at 113.00 and then bounce higher. A break and retest of the channel high would be the safest place to enter.
Daily