FX.co ★ USD/JPY

Hello traders, during the American session, USD/JPY stubbornly refuses to go down. Right now, with the American statistics showing all majors strengthening against the dollar, here the dollar is immediately bought back from 158.80 on any decline. This is a kind of signal that the northward movement is not over yet, and it's too early to head south. Our north direction now is towards the descending line at 159.50, and above that, back to 160.00. I no longer consider the possibility that this is just an upward correction from 157.80 - the retracement above 61 fibo level was too deep.