USD/JPY Two POC Zones Might Reject the Price

Dear Traders,

The USD/JPY, popular “Ninja” is having a retracement up, after gapping down on early Monday night.

We can see the two POC zones that might reject the price. The first zone is 106.10-20, while the 2nd POC is 106.70-85. If we see a rejection then the pair should drop towards 105.28, targeting 104.97 and 104.39. However, a bounce above 106.90 will target Monthly L3 108.25. The only news that could move USD a bit today is CB Consumer Confidence which accounts for a majority of overall economic activity and is a leading indicator of consumer spending.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
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