A bit of correction might be ahead for the USD/JPY as it it held under 80.00. The bull run has accomplished a break above the key pivot near 79.55, which was resistance in Nov. 2011, and also support during May and June of the year. The RSI in the daily chart was pushed above 70, a sign of bullish momentum, although in the short-term, it reflects overbought condition. The 4H chart also shows overbought conditions, but there are no signs of slowing down just yet, except for the hanging man candlestick. However no significant bearish candles have followed and the market is basically indecisive as it looks for clues to ... (full story)