USD/JPY has held where it should have and oscillators are back at the bottom of their range and stabilizing, says Goldman Sachs. "Interestingly, the similarities to Jan./Feb. continue to persist. Both periods saw a bearish key day reversal at the trend highs, a period of consolidation, an eventual sharp decline retracing ~50% of the previous rally. In early February, USDJPY held 101.00 and stabilized; that level was 50% of the Nov. ‘13/Jan. ‘14 rise," GS notes. "It looks as though a near-term low may now be in place," GS argues. Thus, in the current choppy conditions, GS advises keeping a close eye on the pair ... (full story)