USDJPY Correction

[Rambo35]

It has been a long time coming, but I think we are finally in the corrective mode I have been predicting. I did think 104.00 would have been the level where shorts would have kicked in, but it was not until we touched 105.00.

The NFP report out of the US on Friday was the ultimate catalyst which started profit taking and I think we can test the 100.00 level before potentially breaking out above 105.00.

Those are just my ideas and not a trading recommendation.

 

[Easy Trader]

I've got my eye on the 108.5 before a bias change but recent PA on the daily does lean toward a pullback to the 101-100.

 

[John_Davy]

It's good that this was brought up.