Usdjpy has basically been Ranging at the top of an uptrend in between 107.890 and 107.400 indicating that price is in a Distribution phase and we can probably expect some Usd weakness or even a complete reversal. As of last week, we saw a break of this range and an immediate break back in retesting the top of the range acting as resistance. I am personally looking...
After reaching 50, as expected some sideways action. sold the 52c around 1.05 around 2 weeks ago.
I am neutral, because this looks like a correction of the prevailing uptrend as indicated in the dark red trendchannel.
Downside support are the blue trend line at around 48.20 and the 20 day MA or middle BBand.
Further on the downside we are looking at the...