USD/JPY session outlook: Still heavily overbought but remains resilient

Some of the cross pairings look exceedingly overbought on shorter-term time-frames but that is usually the case when a sharp trend emerges and does not necessarily mean that a top is in place. We might simply get a period of sideways trade before the next move higher?

  • Support should now emerge in USD/JPY near the previous consolidation top at 81.50:
  • Sell orders are reportedly solid 83.20/35 and should contain on the first attempt at least:
  • Holidays everywhere today so ranges more likely to be very tight.


  1. Hi,i know that u said u are not a candle freak but am watching yest’s closing candle on this pair.Indecision meaning further setbacks but am not selling in this holiday conditions, just hoping to jump in at much lower levels for a resumption of the bullish run.

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