USDJPY-
USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart. This with the Federal Reserve’s policy announcement on Thursday provoked a violent reaction as the dollar snapped lower then recovered but the prospect of an ever lengthening term at the zero rate boundary drove the USD/JPY to its weakest close in a month on Friday.
USDJPY is at a level of structure support that has been a major level of structure for this pair multiple times in the past.for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.
Support Area (Brown Zone) = (103.980-105.930)
USDJPY has recently crossed the 50EMA meaning the start of a new trend on the 4HR Chart. This with the Federal Reserve’s policy announcement on Thursday provoked a violent reaction as the dollar snapped lower then recovered but the prospect of an ever lengthening term at the zero rate boundary drove the USD/JPY to its weakest close in a month on Friday.
USDJPY is at a level of structure support that has been a major level of structure for this pair multiple times in the past.for this week, I will be looking for possible long trades out of this pair from our Monthly Support Zone.
Support Area (Brown Zone) = (103.980-105.930)
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