USD/JPY was once again the main target for US dollar bulls amid the ongoing major US-Iran War, which began on February 27 (with a positive twist in the past week and a half).
USD/JPY is now entering a potentially significant corrective phase, pushing towards a break of the range established since March 10.
Testing and wicking at the 50-Day Moving Average (157.60), mean-reversion buying has faded the morning move, but the Daily RSI, now falling in bearish territory, is pointing to a move that could have just begun.
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By Elior Manier
USD/JPY was once again the main target for US dollar bulls amid the ongoing major US-Iran War, which began on February 27 (with a positive twist in the past week and a half).
