USDJPY is likely to drop more. On daily you can see major support and resistance lines (plotted using line chart).
TD breakdown projection sends us to the support line on daily. But price is likely to end lower, at yearly S1. Bearish engulfing off yearly pivot is also the indication of that.
It means USD is likely to weaken more, at least in relation to JPY and Gold.
Top Absolute Correlation 1 Day
1 USDJPY - USDTRY -70.2%
2 USDJPY - SGDJPY 69.9%
3 USDJPY - JPYX -69.2%
TD breakdown projection sends us to the support line on daily. But price is likely to end lower, at yearly S1. Bearish engulfing off yearly pivot is also the indication of that.
It means USD is likely to weaken more, at least in relation to JPY and Gold.
Top Absolute Correlation 1 Day
1 USDJPY - USDTRY -70.2%
2 USDJPY - SGDJPY 69.9%
3 USDJPY - JPYX -69.2%
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