USD/JPY reached a selling zone [Video]
|The USD/JPY pair rallied in the short term and now is located at 149.04. Still, the rate could only test and retest the nea-term resistance levels before going down. The price action signaled a potential correction, but the fundamentals should move the rate today. The US is to release the NFP, Unemployment Rate, and the Average Hourly Earnings. Poor US data should send the pair down again.
As you can see on the H1 chart, the rate failed to stay below the S1 (148.46) and now it challenges the weekly pivot point of 149.08. It could reach and retest the uptrend line as well. This stands as a dynamic resistance. False breakouts may announce a new sell-off.
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