Price is consolidating right now, so, if this consolidation is broken down, then the move will be confirmed….
This imputes a buy/sell ratio of 0.58, which is bearish.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
Out of the 40 instruments in the forex asset class, usd/jpy ended up ranking 23rd for the day in terms of day-over-day price change.
For additional context, note that price has gone up 6 out of the past 10 days.