{video}USDJPY seems primed to stretch its newly bullish trend further into the 107.00 area, having already retraced half of its 2020 bearish run. With the RSI and the fast Stochastics fluctuating within the overbought territory, and the price flirting with the channel’s topline near 9-month highs, profit-taking actions are increasingly possible in the short term. The 50% Fibonacci of the previous downtrend is also challenging the price near 107.14, and should it hold firm, the pair may weaken to seek support around 106.65. In the event of a sharper decline, the 38.2% Fibonacci of 106.00 could provide some footing ... (full story)