Last Updated Date: 17 March 2022 @ 9:43 AM (UTC)
*Please note that all the dates are in GMT time zone
The medium term trend remains up, but trade is showing a short term down correction as the USDJPY entered the overbought area. The market is triggering a downside breakout from sideways congestion and opens up potential selloffs to 118.20. A close under the 118.20 could warns for washout declines to 117.30. Any corrective rebounds should find resistance within yesterday's accelerating selloff range. Only a close over 119.12 marks a reversing / bottoming turnaround.
