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IkanBilisCapital

More downside for the USDJPY but capped in a range.

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
IkanBilisCapital  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpysell usdjpybuy usdjpyforecast usdjpylongsetup
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trendanalysis chartpattern indicator usdjpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpysell usdjpybuy usdjpyforecast usdjpylongsetup
It looks like there is more downside to come for the DXY though the move will likely be capped in a range. This downward move can get some support at around the 114.6 or 114.2 levels before it hits the bottom of the range. What the price chooses to do at those levels will be largely dependent on what the central banks do. Is the federal reserve going to turn more hawkish than they already are? Or are they going to stick to the original plan?
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