The USDJPY is trying to transition into a positive position and will maintain this posture above the 9355-9340 Inflection Pivot.
If the MKT is good it will stabilize above here. A breach of 9670 is encouraging however a violation of the 9971 Resistance Inflection Pivot is needed to signal a positive acceleration in momentum targeting 10697 and 11272-11235 on the move.
A break under 9277 and the USDJPY revisits the 8715 recent low point where buying should be expected. A test of this support is negative however and positive reactions should be considered opportunities to FADE.
A failure from the 8715 support inflection pivot will extend the weakness down to the 8030-7830 support band. Look for buying opportunities in this zone as no immediate follow through is expected and the outlook a 3-5 month digestive rally out of this zone.
JS
