USDJPY Update
USDJPY has gauged an intermediate cushion after a perpendicular sell-off to near 134.40 in the Asian session. The asset witnessed massive selling pressure after neutral interest rate guidance came from the FED post a widely anticipated 25 bp rate hike. The pair adds to its heavy weekly losses and drifts lower for the third successive day on Thursday. Meanwhile, buyers need validation from the immediate multi-day resistance zone of around 135.15_25 to convince short-term bulls. I think a realization of forecast on payrolls could help to deepen the stake that the market has on USD shorts. That likely means that the price may have more room to run to the downside.
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