A big move in occurred this holiday week in USDJPY, in which the pair broke a major trendline (the blue line in the chart below) and fell to its 200 EMA (green line).
At this point, I'd prefer to see price fall to support at around 118.40 before considering buying. Preferably, there would be some type of accumulation pattern there as well. Below is a weekly chart of USDJPY that offers that perspective.
At this point, I'd prefer to see price fall to support at around 118.40 before considering buying. Preferably, there would be some type of accumulation pattern there as well. Below is a weekly chart of USDJPY that offers that perspective.
USDJPY Breaks Trendline and Falls to 200 EMA
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