# Major Correction on USD/JPY (July 11, 2013) Source: https://www.tradersway.com/resources/market-info/major-correction-on-usd-jpy-july-11-2013/ Language: en Updated: 2013-07-11 Description: Explore Major Correction on USD/JPY (July 11, 2013). USD/JPY. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. USD/JPY suffered heavy selling pressure in yesterday’s trading when the FOMC meeting minutes revealed that not all Fed officials are in agreement with Bernanke’s tapering schedule. The minutes showed that some policymakers are still waiting to see significant improvements in the labor market before considering a reduction of bond purchases. On its 4-hour time frame, USD/JPY appears to be finding support at the 98.50 minor psychological level. This is in line with the 38.2% Fibonacci retracement level. ![Major Correction on USD/JPY (July 11, 2013)] Stochastic is in the oversold region, suggesting a potential bounce could take place soon. At the same time, a bullish divergence has formed when you connect the previous low from the middle of June. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/major-correction-on-usd-jpy-july-11-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/major-correction-on-usd-jpy-july-11-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/major-correction-on-usd-jpy-july-11-2013/", "headline": "Major Correction on USD/JPY (July 11, 2013)", "inLanguage": "en", "datePublished": "2013-07-11T10:34:45+00:00", "dateModified": "2013-07-11T10:34:45+00:00", "articleSection": "Market Info", "description": "Explore Major Correction on USD/JPY (July 11, 2013). USD/JPY. 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