As described in my previous USD/JPY market commentary, USD/JPY Bulls have broken the important 108 level as expected and taken the price close to the target area at 109.25.
What will happen next?
As per my analysis, Bulls may not be able to break the 109.25 hurdle immediately. So, there will be some profit taking and consolidation in the 108.60-109.20 region.
However, if reversal signals form in this region then Bears can show up drop the price close to 108 again.
As per my analysis, Bulls may not be able to break the 109.25 hurdle immediately. So, there will be some profit taking and consolidation in the 108.60-109.20 region.
However, if reversal signals form in this region then Bears can show up drop the price close to 108 again.
