USDJPY is bouncing, bigly

I should have went with my gut. the $100 technical level held and the Weekly Breakout of the RSI which had been pressed down 5-7 times throughout the past year gave way. Alot of times RSI breaks out before price. I did not commit because I wanted a bullish divergence in RSI and Price and that was never violated with the BREXIT low. However…the RSI played out and not USDJPY is sitting at 108+.

 

I expect this to reverse lower soon and if it tests the 100 level again…I do not think it will hold.

 

usdjpy

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