The price action of USDJPY has been in a bit of a rabbit hole in terms of prediction. However, a look on the weekly chart tends to simplify the 'jibi jaba' direction on the lower timeframe. Price seem to be forming a rising wedge on the weekly chart and the divergence in price with the RSI seems to favour a near term bullish bias. With this in mind, there is a possibility that price would likely hit 112.25 before reversing.
Disclaimer: This is not a financial advice. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with you.
Disclaimer: This is not a financial advice. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with you.