USDJPY may be pushing for a reversal, following a heavy Bearish Market for the past 6 months. There was a breaking of structure at previous Lower Highs, and a closing above them, indicating an overall change in structure.
Price may reach a point of indecision, in which case look for a sell-off back to supported areas. This could give the Bulls the price they were looking for.
In the other case, this could be a minor push from the Bulls, leading to an exhaustion, and continuation of Bearish momentum. In that case, there is a potential short upside to the counter trend bullish trader.
Price may reach a point of indecision, in which case look for a sell-off back to supported areas. This could give the Bulls the price they were looking for.
In the other case, this could be a minor push from the Bulls, leading to an exhaustion, and continuation of Bearish momentum. In that case, there is a potential short upside to the counter trend bullish trader.