the USDJPY has reached to a major support area around 108.60 handles, as you can see, the RSI is pretty much in an oversold area along with the reaction of the candlesticks are in a consolidation phase.
it's not until we break above 110 to see this pair moving a little higher towards 112, on the other hand, if we break below 107.50 that might drive the market much lower.
in the meantime, I think the pair will continue to be noise for now between 110 and 108 levels.
it's not until we break above 110 to see this pair moving a little higher towards 112, on the other hand, if we break below 107.50 that might drive the market much lower.
in the meantime, I think the pair will continue to be noise for now between 110 and 108 levels.