USD/JPY has come under intense pressure, having broken through support at 96.27, the downtrend broken last week as USD/JPY launched toward the 97.80s. The old range tops in the 95.80/90 area are fast coming into view.
As much as I hate to try and catch a falling knife, I’d be a scale in buyer here and again around 95.70 (where stops are eyed) for a quick rebound once the stops are done.
USD/JPY trades now at 95.93.
