USDJPY – Price gets sucked into a prolonged correctional bog

06.10.2022

The situation remains unchanged for the pair in question. The dollar is not able to make a final lunge to reach the current high and complete the prolonged upward momentum.

The price has a strong support at 144.98 and if the break-up will succeed, we might see a strong rising. But when it will happen, and if it will happen at all, it is difficult to say.

The pair under consideration often goes to a long sideways slump and we might see the correction swamp now. It is not recommended to open any trades based on current values in such situation.

Recommendations: flat.