USDJPY spiked to just above 160, specifically 160.27 (mid-prices), when it faced heavy selling that pushed the pair down below the 0.382 retracement of the uptrend since March (blue Fibonacci levels) to the 0.618 retracement of the April bullish move (red Fibonacci levels) at 154.42, testing the lower rising trendline in the process. The strength indicator RSI is still showing positive sentiment without any divergence, indicating that USDJPY could move higher in the coming days or weeks. However, if USDJPY breaks below 154.40, it is likely to encounter another round of heavy selling down to either the 0.786 ... (full story)