As you can see the pair is moving to retest a major level which is a good opportunity to go long..
RSI is heading north about to get into overbought area, also 38.2% fibo retracement smack at the support area, and EMA 50 is getting close to the price as you know this moving average is a dynamic support and resistance.
If you want to take the trade from this levels it could yield around 100 pips to 116.50 as a TP
PS. all yes pairs are highly correlated to USD/JPY so if the greenback keep the pressure yen will be weak against all currencies, but if UJ drop this trade will probably gonna fail..
good luck homies
RSI is heading north about to get into overbought area, also 38.2% fibo retracement smack at the support area, and EMA 50 is getting close to the price as you know this moving average is a dynamic support and resistance.
If you want to take the trade from this levels it could yield around 100 pips to 116.50 as a TP
PS. all yes pairs are highly correlated to USD/JPY so if the greenback keep the pressure yen will be weak against all currencies, but if UJ drop this trade will probably gonna fail..
good luck homies
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.