Is a deep downward correction on the way?

In the USDJPY currency pair the market is suffering. Fluctuations starting from the temporary peak of 129.39 can continue further. However, the fall of the US dollar against the Japanese yen is expected to be limited by the support of 125.09 and another bullish rally will take place.

Conversely, if the USDJPY pair crosses above 129.39, it will reach the next target at 130.04.

* Technical H4 analysis of USDJPY

* Technical daily analysis of USDJPY