JPY - USD/JPY stuck in a correction

The trend of USD/JPY can be seen from the technical charts. The RSI and the stochastic index have just dropped significantly from the overbought area. It is estimated that the upward trend that lasted for more than two months may slow down. Starting from the low of 129.63 on March 24, the USD/JPY has increased by more than 1130 points. If the correction is calculated to be 23.6% and 38.2%, it will be 138.25 and 136.60, and if it is extended to 50% and 61.8%, it will be 135.30 and 133.95. As for the resistance level, it will look back at the 141 and 142.30 levels.

Focus:
Monday/Japan PMI (08:30)

Estimated volatility:
Resistance 141.00 – 142.30
Support 138.25 – 136.60 – 135.30 – 133.95

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