After Friday’s selloff current week started with a rebound at USDJPY. Area of 116.50 was defended by demand because further declines (and especially support breakout at 116.00) will worsen technical situation on the chart. Changes in long-term trend to a downtrend will become a fact. Currently upward movement should reach 118.30 – 118.80. This area is important for further moves direction. If demand breaks it and upward movement continues next target will be at 120.60.

Time-frame H4


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I would like to remind previous analysis USDJPY from January 7, which was very profitable. I wrote: “It is likely that weak correction may appear and 118.70 will be tested. If there will be a rebound at 118.70 level price will fall to 116.00”.

Time-frame M30


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