USDJPY Short Term Move

11 באוק׳ 2021

UJ has been on a bull run, with it reaching 112 and beyond which has not been since Dec of 2018. With Asian open for this week, it has already moved 50 pips to the upside. I expect it to pullback to the 122 zone before moving any higher. Thats about 70 pips to the downside before the bull continuation. Currently on the smaller time frames, the bulls look like they are exhausted, I am waiting for the next 4H candle to close to get a firm confirmation of the pullback.