USDJPY-Weekly Market Analysis-Dec20,Wk3

13 Des 2020

While USDJPY has a bearish overcast, it does give counter-trend traders a buying opportunity once the market has extended towards the support level of the sideway bounce formation.

I'll be waiting for a double bottom with RSI Divergence to engage the trade at 103.72. If the trade was engaged, 103.94 will be the level that I will watch closely if a break and close above happen at the level.