USDJPY has bounced strongly from strong support at around 141.55 currently testing the 0.786 retracement at 146.24 of last week’s sell-off. The bounce could continue to test resistance at around 147.50 RSI is at the time of writing breaking above its falling trendline and above 40 threshold suggesting the sell-off in USDJPY is done. RSI is however, still in negative sentiment also pointing to lower levels. USDJPY is truly in a bit of a limbo If USDJPY is closing above 147.50 a move to key resistance at around 149.75 and 0.786 retracement is in the cards. A close above 149.75 will confirm bullish trend with potential ... (full story)