Chart of the day

USDJPY is going for a retest of the strong support 146.5-147. A bounce from this zone is required for the upside extension and a test of important 152.50.

Only in the case of a bounce from 146.50, we can expect an upside continuation and a test of 152.50. Until then we could be in a swing range and a possible break below 145 would lead to a deeper downside reversal.

_{Long trades could be opened here with a stop loss just below 146. Short trades could be open only in the case of a break below 145 again.}