USD/JPY fell for five consecutive days by Monday's close, which was its worst 5-day run in three months. Yet two daily closed beneath the lower Keltner band and RSI (2) reaching oversold indicated that mean reversion higher was due.
Hotter-than-expected US inflation data confirmed our suspicions, and a bullish day broke the 5-day bearish sequence and confirmed a...
My bias is to the upside as the price is trading in a triangle and at a support level. I believe that price can rise to at least 173.250, but my target is the previous resistance. We have news ahead so we'll see how this plays out :)
