– USD/JPY bears are lurking and eye the 135.50s.
– The 135.50s guard 133.00 to the downside and a break of the trendline support.
Following the hotter-than-expected US data, the
US Dollar index rallied through the 105.20s to a seven-week high and putting it on track to post its largest weekly gain since late September.In turn, USD/JPY rallied hard but it is now in a corrective territory as the following illustrates:
USD/JPY and DXY analysis
The US Dollar could be on the verge of a significant correction and that could well play out as follows in USD/JPY:
USD/JPY rallied on the final day of last week and has left the price vulnerable of a correction:
The 135.50s guard 133.00 to the downside and a break of the trendline support.
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