Bearish Correction Complete? It’s been a down month for the USD/JPY, but it looks to be reviving its prevailing downtrend. Let’s take a look at the 4H chart first. Bullish Breakout and Confirmation: The 4H chart shows that price fell from September’s and the 2014 high of 110.08 down to 105.19 before rebounding. We started the week with a brief break above 107.00 then a bearish attempt. This bearish attempt cracked last week’s rising trendline, but rebounded immediately. This false breakout to the downside could be translated as a bullish signal. Note that it also respected a previously broken resistance line as ... (full story)