USDJPY (Daily) is nearing five year long up trendline, will price break the trend line ? or will be this another retest
to break 2015 highs ? Since last year this pair is moving side ways with successful retest of support zone three times.
Now price is in the support zone and RSI is over sold @25. Last time RSI oversold like this in the support zone was
back in April,2017 after that price zoomed to the resistance. This time support zone is the confluence of 2012 trendline,
50% and 61.80% fib retracement from August 2016 and 38.2% fib retracement of 2012 low.Break of this trend line
will bring this pair to 100.
to break 2015 highs ? Since last year this pair is moving side ways with successful retest of support zone three times.
Now price is in the support zone and RSI is over sold @25. Last time RSI oversold like this in the support zone was
back in April,2017 after that price zoomed to the resistance. This time support zone is the confluence of 2012 trendline,
50% and 61.80% fib retracement from August 2016 and 38.2% fib retracement of 2012 low.Break of this trend line
will bring this pair to 100.
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.
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.