Last week, USDJPY got rejected from the cup&handle's 150 resistance, then break the 149 support, fell sharply. The recovery is in process but the broken trendline is a major hinderance in front of USDJPY bulls. Now the trendline and 150 resistance converged and USDJPY is trying another attempt towards this key resistance. As long as it holds, there is a good chance another downward reaction to begin.
Hovewer, after testing it 5 times, if USDJPY regain control of 150, the short term outlook might turn bullish.
Hovewer, after testing it 5 times, if USDJPY regain control of 150, the short term outlook might turn bullish.
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USDJPY holding the 150 level and trendline so far. This is a bullish setup as long as it holds.
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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.