USDJPY - Mid-term Long at Multiple Support Zone
If you would just take a look at the weekly chart, you would realize that the recent drop in USDJPY is just a matter of a retracement in the bigger picture.
The price broke above an 8-month falling trendline, and then retraced back to this trendline again as a form of support for further appreciation.
Base on this chart, there's a multiple support within the buy zone; the weekly falling trendline and the bottom of a rising channel.
And watch out for the Dollar index, it is now trading at 95.6, a sign that the dollar may break new high this week.
The price broke above an 8-month falling trendline, and then retraced back to this trendline again as a form of support for further appreciation.
Base on this chart, there's a multiple support within the buy zone; the weekly falling trendline and the bottom of a rising channel.
And watch out for the Dollar index, it is now trading at 95.6, a sign that the dollar may break new high this week.
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