USD/JPY finally rebounded more decisively from 111.54. I think next target to the upside will be around 112.65 - 112.70.
70% power to buy is very strong.
USD/JPY reached 112.40 before it renewed its move
to the downside although it still hasn't broken out below 111.50. I
think I will refrain from new shorts before a breakout.
The pair broke the immediate support at 111.50. Next stop i think is 110.
The USDJPY breaks below the 200 day EMA at the 111.48 level and it may continue falling. The thing now is that it actually has the road clear to drop all the way to the 108.80 low.
I agree, the pair remains strong bearish tone, further decline is expected.
USD/JPY broke out below 111.50. The trend remains
very bearish and I think the drop will last at least until the pair
reached 109.50 - 109.30.
USD/JPY rebounded from 110.60 after all and it
formed a spinning top bar on the daily time frame. I don't think that
the move to the downside is over in the long term, but for the moment we
could see some retracement.