MACRO VIEW: USDJPY HOLDS LONG TERM GROUND
Despite today's sharp selloff in the dollar, USDJPY holds long term ground
The price held 1-year (264-day) mean standing at 117.60
The price also did not fail its relevant lows at 115.40
Thus USDJPY is likely bounce back up now
However, risk of more downtrend remains as price trades below 1st standard deviation from quarterly (66-day) mean at 122.25
The price held 1-year (264-day) mean standing at 117.60
The price also did not fail its relevant lows at 115.40
Thus USDJPY is likely bounce back up now
However, risk of more downtrend remains as price trades below 1st standard deviation from quarterly (66-day) mean at 122.25
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