FX.co ★ Trading Signal for USD/JPY for July 14 - 15, 2022: sell below 139.06 (+1/8 Murray)

USD/JPY stopped its strong negative move after it had reached a 24-year high near the 139.37 area. The price is currently pulling back and trading below +1/8 Murray (139.06).

According to the 4-hour chart, we can see that the Japanese yen is extremely overbought. Hence, a strong technical correction is expected in the next few hours. USD/JPY could fall towards 8/8 Murray at around 137.39.