A swift reversal after looking strong into the high 106’s
That’s what happens when rallies are built on sand rather than concrete.
USDJPY 15m chart
As it’s been one way traffic for most of the day, it looks like folks have got a little ahead of themselves and aren’t willing to back up the rally with decent support., and thus we see the steep pullback off the highs as traders realise there’s no safety net.
USDJPY takes a quick slap down to 106.33 after the failure near 107.00
