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U.S. Dollar / Japanese Yen
Long

USDJPY in a strong ascending channel, potential for further rise

By Tickmill
Broker

USDJPY remains in a strong ascending channel and is also above our Ichimoku cloud signalling that there’s strong bullish momentum. Price could potentially drop to our first major support at 109.98 (Fibonacci retracement, Fibonacci extension, horizontal pullback support) for a bounce to at least 110.86 resistance (major 61.8% Fibonacci retracement).
RSI (89) has made a strong bullish exit signalling that there’s potential for further upside movement.
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Chart PatternsHarmonic PatternsTrend AnalysisUSDJPYusdjpy1hrusdjpyanalysisusdjpybuyusdjpydailyusdjpylongusdjpylongsetupusdjpysellusdjpyshort
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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