It is always the same story with the USD/JPY which has been trading flat after the market has digested the last BoJ intervention (from August 04).
It has been though under the spotlight on friday with a sharp break below the historical low at 76,30 printing a new fresh record low at 76,00 now key support.
Considering the immediate bullish reaction on top of this level which result in a “spike” on this price, we consider that a major bottom base might be carving out.
We expect to see a significant bounce on this pair over the coming days and weeks but for the time being, we will remain on the sidelines until the picture becomes more clear.
Provided by atf-forex-trading.com