Long Term Bull-case scenario USD/JPY
Despite USDJPY clearly respecting a Bearish Trend since the 25th of March, it is approaching the 2020 low created on the 9th of march at 101.18.
If this zone is successfully rejected this could create a longer timeframe Double bottom, which is regarded as a strong Bullish pattern. Furthermore, the U.S. Dollar is unlikely to lose its Reserve Currency Status and as rates eventually increase the US dollar should face upward bullish pressure.
If this zone is successfully rejected this could create a longer timeframe Double bottom, which is regarded as a strong Bullish pattern. Furthermore, the U.S. Dollar is unlikely to lose its Reserve Currency Status and as rates eventually increase the US dollar should face upward bullish pressure.
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