USDJPY experienced a ”Flash correction” Thursday before bouncing back strongly and has now broken above resistance at 135.60. There is still divergence on RSI, but trend is up and remember the trend is your friend. To reverse the bullish picture USDJPY needs to break below 131.40. USDJPY is testing its strong resistance around 136. A cluster of resistance/projection levels are placed around this level. It was the peak in January 2002, it is 1.382 Fibonacci projection of the Symmetrical Triangle break out, and if you take the peak to bottom of the Triangle and add that difference to the break-out price (illustrated by ... (full story)