USD/JPY bears move in on a critical daily support area ahead of US CPI – by fx_ross USDJPY Technical Analysis Commodities Currencies Fed
As illustrated, the price indeed moved in towards the targetted area of mitigation as per the prior analysis forecasted and explained. At this juncture, there are prospects of a correction of Friday's bullish candle into the neckline of the W-formation as follows:
The yield has corrected towards the neckline of the W-formation on the daily chart within the lower boundary of the broadening formation. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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