USD/JPY sell-off could be over soon [Video]

Olimpiu Tuns Learn 2 Trade

The USD/JPY pair is located at 134.41 at the time of writing. It seems undecided in the short term, so we need a fresh opportunity before taking action. Fundamentally, the Japanese Bank Lending and Economy Watchers came in better than expected, while Current Account came in worse than expected. On the other hand, the US PPI and Core PPI reported a 0.2% growth, while Unemployment Claims came in at 264K in the last week.

From the technical point of view, the rate stands right above the uptrend line which represents a dynamic support. Testing and retesting it, registering only false breakdowns may announce a new leg higher.

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Author

Olimpiu Tuns

Learn 2 Trade

Olimpiu is a seasoned Market Analyst / Trader with 11 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

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