FX.co ★ remington.kihn | USD/JPY

The dollar had a bad day yesterday, including in the USDJPY pair. However, there is still time and a chance for buyers to regain control. The bears managed to push the USDJPY price below 142.00, but failed to hold below it immediately, allowing it to move slightly higher. Nevertheless, it is too early to talk about a full reversal to the upside. If sellers can push below 142.00 again soon, then we might see a move towards 141.55+/- shortly. A close below 141.55 would confirm the bearish sentiment and open the way to 140.50-139.85. In this case, it is important for sellers not to let the price drop further, but buying looks quite attractive on a rebound with targets of several hundred points, and even thousands in the medium to long term. If buyers return to the market, then buying could become relevant again after a close above 143.00. Initially, modest targets would be 143.85 and 144.00-144.20. However, once buyers establish themselves above 144.20-144.50, we could move towards 148.00 and beyond. There are many interesting targets to the upside, but positive news for the dollar is needed for the movement, which is currently lacking. Although, it is possible that at some point something will happen in America and the dollar will soar. Or maybe drop.:)))