Which ways will USD/JPY turn

JPYs are moving and moving fast but direction remains to be a question mark. Wednesday JPYs took swing high then swing low and ended up where it all started. Asian session brought in bearish momentum as JPYs moved short sharply. Currently JPYs are at support levels. Break out of current support will confirm Bearish momentum in JPYs and bounce off will be indicate a correction move ahead.
USDJPY in particular is test support at 93.750 zone. Break out of this level may mean USD/JPY going further down and testing 92.500 levels. On the bounce off 96.00 will be radar. Let see which way USD/JPY turns…Stay Tune…

For Intraday Traders, Hawk eye the Support zones , at break out look out for Short otherwise look for long confirmations.


Sardar Uddin
TradeCuts