USD/JPY Discussion

There are two possible scenarios, and both involve a downward move; we're sticking with the sell position.

On Friday, the USDJPY price action on the daily time frame drove below the 160.720 horizontal support before a bullish pushback that led to the printing of a bullish candlestick with a prominent tail. Technically, we may still see further northward price action, and this may retest an intra-day value area before a bearish correction.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)