The USDJPY may be poised to kick on and catch bears offguard

The USDJPY recently pushed down through 108.270 to flush out a few buyers before changing direction to head higher. We see the potential for a move up as recent sellers are caught off guard and squeezed out of the action. There is strong support down at 105.050 that is expected to hold, but the question is whether a key higher low needs to hold prior to a charge higher which suggests some short term bearish action.

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