Monday, February 26, 2018
There May Be A Bullish USD/JPY Correction
That is logical, considering that the pair has reached that support twice in the past few years – once in October 2014 and then back in May 2016. That said, that support is not particularly strong in my opinion, and there is little doubt that the pair will break out below it, but before that it seems we’ll see a corrective move to the upside.
That is just a correction however, and once it’s done I think the pair will head for its next target to the downside, which is the support in the zone around 100.50 – 99.50.