USDJPY reversed sharply from 97.75 region in this week, which appears to be an impulsive price action that also took out the upper side of a downward channel. These are all important signs for a change in trend, even if just temporary. With that said, we will be looking for higher USDJPY in days ahead as long as 97.75 low of a complex correction is in place. Ideally market will continue higher back to 100.60 region in impulsive fashion.
Written by www.ew-forecast.com
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