USDJPY has been trading in a sideways Range/Channel between 108.13 (support) and 114.24 (resistance). The pair has been trading in this range since February 2017 and the last three weeks has seen the pair find a strong rejection and the support at 108.13. There is no sign that suggests that the pair will trade outside that range. with the strong rejection witnessed last week, traders to expect the pair to revisit the upper limit of the range @ 114.24 in the coming weeks. The expected duration for this journey is not precise, but the pair should get there non the less.
Looking at the overall bullish outlook of the US dollar, it further lends more credence to the bullish outlook of this pair.
To trade this pair, look out for significant pullbacks and join the ride north.
Looking at the overall bullish outlook of the US dollar, it further lends more credence to the bullish outlook of this pair.
To trade this pair, look out for significant pullbacks and join the ride north.
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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.