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USD/JPY Find Support at 101.55

The USD/JPY slid sharply this week. It has reversed almost 2-weeks of gains in a matter of 2 sessions. 


(USD/JPY 4h chart, 4/9)

This dip is concerning for the bullish outlook, but it did find support around 101.55, which maintains a slight bullish structure since it is trading above a rising trendline seen in the 4H chart.

It will take a return above 102.80 to bring back the bullish outlook. A break below 101.20 should be a strong bearish sign for the short-term. A break below 100.70 then introduces a bearish outlook in the medium term.