Previous week, we wrote USDJPY: "Sneaky" Wave 4 Managed to Trap Us Again!, and stated that 105.50 would the next level to watch as an important support and then the lower-bound of the channel
"What is happening today is a clear Impulsive move down, a typical reaction of the "Capitulation" phase (as in USDCAD case), that is targeting the lower bound of the channel. Next important support is a previous level at 105.50."
Today, USDJPY is at this support level and ...Read More
