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U.S. Dollar / Japanese Yen
Long

USDJPY → A strong buyer is willing to go higher

By RLinda
Updated
USDJPY does not pay attention to the behavior of the American dollar. The focus is on the Japanese yen. The currency is in a strong sell-off and continues to get cheaper, while a beautiful set-up is forming on the chart.

snapshot

Rising triangle in the global perspective and in the short term: on D1, on H4 and on H1. A beautiful situation, when the chart lives its own life and practically does not react to the behavior of the US dollar, which starts the correction from a strong resistance.
The trigger level for the Japanese Yen is 151.94, the break of this resistance will cause the formation of a strong bullish impulse. The structure will break when the support at 151.15 is broken, but not about that for now.

Resistance levels: 151.78, 151.94
Support levels: 151.15, 150.8

Technically and fundamentally, the Japanese Yen is weakening and will continue to weaken despite the change of actions of the central bank of Japan. The currency pair may renew the high in the medium term.

Regards R. Linda!
Note
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The structure of the "price squeezing to resistance" setup is still in place at the moment.
The structure will be broken when 151.44 and 151.0 are broken.
Note
On the back of bullish NFP, the price, after speculation, returns to resistance. It is necessary to follow the price reaction to the level of 151.786
Note
Maximum readiness :)
Trade active
Trade active
Oh, that's great. Price is breaking resistance
Trade active
snapshot
+90 pips since resistance breakout
Realization phase
Trade closed: target reached
Interim target 153.0 reached
Trade active
Closing of the session confirms the fact that growth will continue
Trade active
A breakdown of 153.25 may continue the price rise
Trade active
Consolidation and willingness to go above and beyond
Trade active
The target of 155.0 is almost reached ;)
Trade active
Overall, the potential remains. The pair still looks very bullish
Note
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Correction amid dollar correction
Trade active
The price is close to the target of 155.0
Trade active
Trade active
snapshot
Note
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Trade active
Strong compression to resistance with the goal of going even higher

Japanese yen continues to weaken
Trade closed: target reached
155.0 reached.
Ascending ChannelAscending TriangleChart PatternsDXYFibonacci RetracementFLATTechnical IndicatorsSupport and ResistanceTrend AnalysisTrend Line BreakUSDJPYZigzag
RLinda
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