As you already know, the brexit effect on all financial market was significant. The USDJPY broke the important area of 101.000, in just matter of minutes, an area that the market respect for almost a complete year (2014). That force, hasnt finished. this impact has created new areas that will help the price, impulsing it to the down direction.
The financial minister of Japan, has said many times that the government will take severals actions, if the JPY keep getting strong, so is important to stay out looking for a long position, until he speak. With the rupture of two important areas like 100.000 and 98.000, in one day, put under pressure the government to take an action in the short term, so , just when the minister speak, the force will be exhausted.
TWO POSSIBLES IMPULSIVES AREAS TO THE DOWNTREND DIRECTION COULD BE. 103 AND 104.
The financial minister of Japan, has said many times that the government will take severals actions, if the JPY keep getting strong, so is important to stay out looking for a long position, until he speak. With the rupture of two important areas like 100.000 and 98.000, in one day, put under pressure the government to take an action in the short term, so , just when the minister speak, the force will be exhausted.
TWO POSSIBLES IMPULSIVES AREAS TO THE DOWNTREND DIRECTION COULD BE. 103 AND 104.