FX.co ★ USDJPY wave analysis update.

post on USDJPY we mentioned that price was most probably starting its wave 4 counter trend move and we should expect price to move higher towards the upper cloud boundary resistance around 138.30. USDJPY remains inside the bearish channel but bulls are showing a lot of positive momentum as price has started making higher highs and higher lows. Support remains key at 133.90. Failure to hold this level will put new pressures on price and USDJPY will fall towards 130-128.