USD/JPY could make a leg higher towards 105.60

USD/JPY could make a leg higher towards 105.60

USD/JPY is looking for clues that help to strengthen the bulls in the short-term, as the pair scopes to make a corrective move in favor of such bias. According to our projections in the H1 chart, the corrective move could go as long as the Fibonacci level of 50% at 105.63. If the pair manages to make a pullback around that area, it’s expected to fall towards the -23.6% Fibo area at 104.15. However, if the 105.63 level gives up, then the highs from March 21st could be challenged.

RSI indicator is moving into the neutral territory, calling for a sideways consolidation.



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