Is there a possibility of a corrective return of the currency pair?
The USDJPY has returned to the downside after hitting 129.39. But as long as the support of 127.76 maintains its position, the short-term market trend will remain bullish. The current bullish rally is expected to continue at 130.04 at the Fibonacci level.
From the traders’ point of view, USDJPY could start a deep downtrend if the pair crosses below the partial support of 127.76. But as long as the market is above the support level of 125.09, we can expect another upward movement.
* Technical H4 analysis of USDJPY
* Technical daily analysis of AUDUSD
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