Usdjpylongsetup
USDJPY, Following DOLLAR.?As salam alaikum
DXY making some positive recovery.
Same goes for UC,UJ as well.
We might dip XXXUSD pairs pretty hard.
T.A review:
UJ is trying to break 103 zone but Dollar
has made recovery. A strong Symmetric
Channel can be seen on Monthly, Weekly TF.
Seems like 103 zone is respected.
We're going up depending upon the coming
weeks fundamentals.
UsdJpy could go to 106Since March 2020, UsdJpy is in a downtrend. I think things are about to change and the pair could go to 106 soon.
After the most recent low Usd has recovered losses and the last days of last week found the pair in a tight consolidation just under trend line support.
I expect a break of this downtrend line and a clear daily close above 104 would expose 106 resistance.
USDJPY | Approaching to break the descending channel +230 PipsWelcome Back.
Please support this idea with LIKE if you find it useful.
***
The dollar is still falling against the Japanese yen for a long time, and with that, I think it is approaching a break towards the upside, this after touching the channel’s support as I drew it on the chart.
***
UsdJpy- carving strong baseSince the start of the pandemic, UsdJpy is trading downwards, but if we look at the daily chart we can see that this downtrend is anemic and looks more like a range with some bearish tone.
We have a recent low just above 103 and now the pair looks like it found a strong base in this zone.
I expect a trend reversal for UsdJpy and I have a bullish outlook as long as the price is trading above 103.
My target for medium-term is 108 zone
UsdJpy building upside momentumAfter 103.20 low, UsdJpy has risen aggressively and reversed 250 pips in one day. Either is BoJ intervention or just the market, 103 is very strong support now.
Now the pair looks like is building upside momentum and a break above 105 would signal a change of trend.
I'm bullish as long as 103 is intact