I am have seeing in last month’s a huge correlation between Nikkei and this cross. In last week, Nikkei sell of due to bad economic results and reforms about monetary politic that bank of japan has been doing (analyst perspective not mine). So when USDJPY failed to achieve new high in last week and also with Nikkei sell of, it didn’t handle and felt more than 3% in 2 days. So in probabilistic view the of the market,it could do a pullback of last low broken and fall more to 96,932-96,959.Let’s go see what it happens.
This article doesn´t excuse a reading of a discloser