After a possible retest support area USDJPY can start to rise
Hello traders, I want share with you my opinion about Japanese Yen. Watching the Japanese Yen, we can see how the price formed the buyer zone, from which it begin to move up and formed an ascending channel. The price reached the level 138.00 bounced back, broke through the support line and exit of channel. After broke the support line, the price continue to fall and dropped to the support area 132.20-131.80. Currently, the price is trading above the support area and may go down and retest it.I think that after a possible re-test of the support area, the price may start to rise and break through the resistance line. Therefore, for the Japanese Yen, I set targets at 134.00, which coincide with the resistance line and at 135.00. Please share this idea with your friends and click Boost 🚀
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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.