USDJPY has been a tough pair to trade in 2020. Although we’ve had a consistent downtrend since February, the pair has been incredibly choppy. You can see some of that choppiness in the recent false break below 104.20. Notice how 104.20 served as support between late July and October. USDJPY fell below that 104.20 area on November 5th. However, two days later, the pair shot through 104.20 with a 200 pip rally. But I wasn’t convinced that USDJPY had turned the corner. If you’ve read my recent posts, you know that the lower highs since February are key. Buyers will have to carve the first higher high to challenge that ... (full story)