USD/JPY: Murray levels analysis
D1. The bulls keep pushing the pair up and don’t allow any major declines. The pair is currently capped by 6/8 (109.38), from which we may see the long-awaited correction down, but only if USD/JPY fails to close higher. Otherwise, we’ll expect further increase the level of already 7/8 (110.94).
H4. Redrawing of the levels gives hope for a reversal down from 8/8 (109.38). However, given the proximity of bullish CTH4 and STD1, we should not rush into selling. The situation at this timeframe is contradictory, so here is the high level of uncertainty.