USD/JPY: Moderate correction likely short-term - TDS

FXStreet (Bali) - Martin Schwerdtfeger, FX Strategist at TDS, believes that USD/JPY is due for a correction lower soon as price looks way overstretched.

Key Quotes

"All in all, we believe the upward trend for USDJPY remains intact from a medium term perspective, but we also think a moderate correction is likely in the short-term as the current level appears overextended. We would not be surprised by a 105/106 handle over the next month or so."