USDJPY is in the downtrend for the last 10 months. Overall Volatility and downtrend momentum weakened in the last 4 weeks with the sideways movement in USDJPY. The Psychological trading zone – Pairs parity 100 got whipsawed couple of times followed by a minor pullback last week. As the panic in USDJPY is fading away one can expect USDJPY to continue in the large consolidation zone and expecting to test 108 in the medium term.
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.