USDJPY may expand the momentumUSD/JPYOANDA:USDJPYStanislav_Bernukhov_ExnessUSDJPY has rebounded strongly following the sharp intervention-driven decline at the end of July. USDJPY produced a strong bullish reaction after testing the lower Bollinger Band. If that momentum continues, the pair could extend the rebound and test the resistance areas above. At the end of July, coordinated intervention by the US and Japan triggered a sharp appreciation of the yen after USDJPY reached multi-decade highs. At the same time, the interest-rate differential between the US and Japan remains wide, continuing to support demand for dollar-denominated assets and keeping the carry-trade narrative alive. That might push USDJPY back. I assume momentum trade to drive the 1-2 days move towards 161 - 162 area. Don't forget - this is just the idea, always do your own research and never forget to manage your risk!