USDJPY is consolidating around 111 (Fibo 61.8%) with 3 failed breakthrough
it should retrace to 107 before any more attempts
or alternative scenario is to break current level all the way upto 112.50/113.50
USDJPY was consolidating for verylong so far
any breakout from current range could send the price 1000 pips either ways
Breakout to the upside would send the price to 128
on the downside we might see 92
Divergence and Strength indexes suggest a breakout to the downside which I personally in favor of.
however one obstacle still persist which is the EMAs 50 & 200...