USD/JPY posted an inside day with a higher close on Friday as it consolidated some of Thursday's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the 62% retracement level of the November-January rally crossing is the next downside target. Closes above Wednesday's high crossing would confirm that a long-term bottom has been posted.
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