Hi everyone,
USDJPY was not able to reach the price of 130.000, and we saw an almost 2,000 pip retracement down to about 127.450 after reaching the high of 129.400.
I am still bullish on the pairing for long-term, but neutral for the short term.
If the price reaches 128.850 I will enter a buy with the first TP set at 129.200 and a second TP/resistance price of 129.400.
If the price reaches 128.000, I will enter a sell with TPs 127.700 & 127.000, and a possible third TP/support price of 126.500.
The ranges between 128.000 - 128.850 are risky to trade at the moment and will fluctuate based on current chart movement.
If the price blows past the resistance I believe we will see the bull run continue to 132.000.
For more frequent updates be sure to like this post and let me know what you think in the comments.
USDJPY was not able to reach the price of 130.000, and we saw an almost 2,000 pip retracement down to about 127.450 after reaching the high of 129.400.
I am still bullish on the pairing for long-term, but neutral for the short term.
If the price reaches 128.850 I will enter a buy with the first TP set at 129.200 and a second TP/resistance price of 129.400.
If the price reaches 128.000, I will enter a sell with TPs 127.700 & 127.000, and a possible third TP/support price of 126.500.
The ranges between 128.000 - 128.850 are risky to trade at the moment and will fluctuate based on current chart movement.
If the price blows past the resistance I believe we will see the bull run continue to 132.000.
For more frequent updates be sure to like this post and let me know what you think in the comments.
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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.
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.