Vladimir Ribakov analyzes USD/JPY bouncing off a key zone as expected. Broken support has turned to resistance, and he's watching for a retest of a ranging zone before the next bearish move down.
Next one, dollar yen follow up on our last week discussion. Our plan was to see here around this zone bounces to the upside before it will manage to create the peak and then start its next move to the downside. So as we can see, the bounce does happen and it happens very nicely. The biggest question is what's next? So my next plan did not change. I still expect to see bearish continuation. I'm just not quite sure that the corrective movement is over. I believe there is a little bit more here. We have broken support that becomes resistance. We have this high axis supply. This ranging zone here is strong, and I believe it should be retested, or at least we should see the dollar yen moving in some range here before the next push to the
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