After a risk on sentiment where the Yen gained substantial strength versus its counterpart GBP, the pair is having a retracement now. Turmoil between the US and NK has turned the sentiment to risk on, leaving the retail gap behind on most Yen pairs. At this point we see a trend change and buying the dips could be the option. 141.55-70 is the POC zone (D L3, trend line, 50.0, ATR pivot) and another retracement in the pair should push it to the upside. 4h close and strong 1h momentum above 142.00 will target 142.16 as the first target then 142.50. Reaching 142.50 will open the door for the close of the retail gap. Only below 141.30 we could see 141.15, 141.00 and resume of downtrend.
