USDJPY - 240 - Watch the barrier

Quick idea.

After rebounding from the 200 EMA, USD/JPY is now trying to climb back up. That said, as long as the rate stays below the 109.70 barrier, we will class the current rebound as a temporary correction before another leg of selling. If the pair pushes through that barrier, then we may start consider larger extensions to the upside.

Please see the chart for details.

Don't forget your stop-loss.