USDJPY Will Go Higher! Long!
Here is our detailed technical review for USDJPY.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 139.604.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 140.965 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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