- Triple bottom formation currently forming (possible indicator of a reversal).
- Using bias on the , price is currently hovering on the 50 level of the Fibonacci indicator, which can be used as high indication for swings.
- Lastly, EURUSD has recently double topped (possible indication of reversal to the downside) which is known to oppositely correlate with USDJPY .
If USDJPY fails to hold this key area, we could see a tumble to the mid 110 zone before any robust evidence of upcoming events. Thoughts?