Update: The USDJPY collapses after the BOJ intervention

11 months ago

The USDJPY pair declined sharply after the BOJ intervention to support the Yen, which pushed the price to break the bullish channel’s support line and achieve bearish correction that reached 38.2% Fibonacci for the rise measured from 131.72 to 145.89, and we need to monitor the upcoming trades carefully, as breaking 140.50 will press on the price to achieve more bearish correction and head towards 138.80 as a next negative station, while breaching 142.55 followed by 143.65 will push the price back to the main bullish track again.


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