USD/JPY’s bearish pullback has extended lower beneath previous support at 82.00. The move was originally triggered by a DeMark™ exhaustion signal that was activated in late February.
This has been followed by signs of strong support near 80.00 from where a higher low may now form.
This may offer renewed buying opportunities in our model portfolio for USD/JPY’s major long-term 40-year cycle upside reversal.
Only a decisive confirmation above 83.40 and 84.18 will extend the bullish recovery which had already risen almost 10% in only 7 weeks! The key medium-term upside trigger level can be found at 85.50.