- USDJPY bulls are moving in with eyes on the 61.8% ratio.
- There are prospects for a significant bullish correction in the days ahead.
USDJPY remains on the front side of the trend in the main, albeit breaking down into test the 140/137s. There are prospects of a deeper move on a break below the current trendline as the following will illustrate from a bearish perspective:
USDJPY daily chart
So long as the price stays on the front side of the daily trendline, there will be prospects for a significant bullish correction in the days ahead.
The 61.8% ratio is in sight within a price imbalance area.