USDJPY bumps into support and forms a false breakdown of the lower boundary of the local trend. The dollar is strengthening at this time, which may give a chance for growth of the currency pair.The price stops in the zone of strong support, the fundamental background has been unstable lately and depends more on the USA. Everyone has long forgotten about the growth of interest rates in Japan and follows the economic data from the West.
Technically, there are two triggers on the chart, one to buy and one to sell, but since the global and local trend is upward, the preference is to buy. If the currency pair is able to consolidate above 151.9 - 151.95, then in the short and medium term we should expect growth to the targets indicated on the chart.
Resistance levels: 151.94, 153.7, 153.97
Support levels: 150.95, 149.52
But, if the dollar continues the correction and the bulls fail to realize the false support breakdown, the price return to 150.95 may provoke the support breakout and fall to 148.64.
Regards R. Linda!
Trade active
USDJPY has consolidated in the buying zone and is ready to move upwards
Trade closed: target reached
TP1 reached
+190
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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.