USDJPY Monthly charts are in declining mode for the last 9 months and consecutively keep on making lower lows and lower highs. And from the 2015 high USDJPY had last around ~20% since the negative interest rate announcement came on January 29. And currently trading around above the psychological support zone of 100 levels. CM William VIX FIX levels indicates a possible oversold levels.[wp_ad_camp_5]
USDJPY Weekly Charts
USDJPY on the weekly charts are in consolidation phase post the BRExit panic moment. And currently wavering around 100-103 zone. Expecting few more consolidation daily ahead of any possible trend reversal.
USDJPY Daily charts are currently in the downtrending mode continuously trending down for last 5 consecutive days but still above the 100 psychological support zone. Sentiment is still negative on the downside and expected to whipsaw the support zone 100 couple of times before any major trend reversal happens. On the trend reversal front once the consolidation phase is over we are expecting USDJPY to trade above 106 zone as shown in the weekly charts.