USDJPY: Minor correction, then bullish trend continuation
On February 6th, I made a prediction regarding the USDJPY currency pair, indicating the commencement of a bullish trend following the breakout of the bearish channel. The prediction was supported by technical analysis on TradingView (check here: https://www.tradingview.com/chart/USDJPY/ALjbWS2n-USDJPY-BULLISH/)., and since then, there has been a notable upward price rally of more than 650pips.
While minor corrections to 135.00 region may be expected, the bullish trend is still in effect, and I anticipate that the currency pair will reach the 142.00 price objective this March, followed by a significant downward correction.
For traders who wish to benefit from this bullish trend, it is recommended that they seek high-quality intra-day setups that are consistent with the overall bullish outlook.
While minor corrections to 135.00 region may be expected, the bullish trend is still in effect, and I anticipate that the currency pair will reach the 142.00 price objective this March, followed by a significant downward correction.
For traders who wish to benefit from this bullish trend, it is recommended that they seek high-quality intra-day setups that are consistent with the overall bullish outlook.
Note
Moving according to plan.
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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.
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.