USDJPN correction expected?
I don’t really trade Forex, unless something catches my attention.
USDJPN has been climbing for a while now. On weekly chart it is overbought and even the strongest move need to take a brake once in a while,
Either if you look on EMAs or Fibonacci levels, correction can reach area 139-141.2.
It doesn’t mean it will but according to my analisys, most of the indices look like they they’re going for an upside move. With VIX being overbought as well.
The markets might get a bit more positive until November US rates decision.
Personally I think we might not get lower than 140.
Im not a professional trader and this is not a trading advice. Trading is risky. Always do your own analisys.
USDJPN has been climbing for a while now. On weekly chart it is overbought and even the strongest move need to take a brake once in a while,
Either if you look on EMAs or Fibonacci levels, correction can reach area 139-141.2.
It doesn’t mean it will but according to my analisys, most of the indices look like they they’re going for an upside move. With VIX being overbought as well.
The markets might get a bit more positive until November US rates decision.
Personally I think we might not get lower than 140.
Im not a professional trader and this is not a trading advice. Trading is risky. Always do your own analisys.
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