USDJPY: Critical Moment

USDJPY, Daily

In the Daily timeframe, USDJPY fell to 61.8 Fibonacci after a short-term rise, testing strong support. At the same time, the price has reached the lower Bollinger line, and the %R confirms a significant oversold condition, which makes a bounce possible.

• If the price breaks the 147,000 support area, it will fall to 144,000;

• However, if USDJPY rebounds, we can expect a rise to 149.500 and further to 150.500;