The yen was off to a weak start but soon regained ground towards the latter sessions. There were no major reports out of Japan then and none are due today, which suggests that risk sentiment could be responsible for pushing the Japanese currency around.
The stochastic is going out from overbought on both D1 and H1 with D1 starting to turn out of the area, meanwhile on H4 is between 50-20 zone heading down.
A possible retracement on price action, with moving averages 5 and 8 converging in H1 and a pull back on H1 and H4 would be confirmation of change in trend. If price action retrace and test previous resistance as support, a long position will be considered.




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