The USDJPY rose sharply coming into the US session, but corrected lower in the US session. Although the price moved below a support target at 150.00, the decline was still modest compared to the sharp rise from Friday’s low. As a result, the buyers remain in firm control.
In the video above, I speak to the levels that if broken, would increase the bearish bias. Absent that, and the buyers remain in firm control with the 50% of the range since the July 24 high at 150.757, and the high of a swing area up to 151.307 as major upside targets.
