My previous USD/JPY bullish analysis almost played out perfectly with the pairing reaching a high of 121.400 just shy of the 121.600 that I predicted.
I am now neutral on the pairing based on chart trends from March/April 2015, the last time Dollar Yen saw prices at this level.
If the price breaks 121.680 I will enter a buy and take profit at 122.500, with a potential second take profit at 123.500, with a resistance price of 125.500.
If the price drops to 120.300 I will enter a sell where we will more than likely see a deep drop-off, and I will take profit at 117.900. I have set a support price of 113.300.
Be sure to like this analysis and let me know what you think in the comments below.
I am now neutral on the pairing based on chart trends from March/April 2015, the last time Dollar Yen saw prices at this level.
If the price breaks 121.680 I will enter a buy and take profit at 122.500, with a potential second take profit at 123.500, with a resistance price of 125.500.
If the price drops to 120.300 I will enter a sell where we will more than likely see a deep drop-off, and I will take profit at 117.900. I have set a support price of 113.300.
Be sure to like this analysis and let me know what you think in the comments below.
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Related publications
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.