USD/JPY Current price: 96.48. After a 200 pip rise, pair is correcting and has just reached the 38.2% of the last up leg in 4 hours charts at 96.43.
Price under 20 SMA, bearish momentum and CCI crossing the 200 line, suggest under current low, correction could extend first to 96.20, 50% of the mentioned rally and then to the 95.80/90 zone.
“If the pair manages to regain the 96.80 level, expect a fresh high in the next hours,” said Valeria Bednarik.
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