USDJPY Weekly:
• After the huge flash crash 2 weeks ago, markets have recovered a bit with still a bit more recovering to do.
• After forming that long wicked candle last weeks candle closed as a Doji above 108.50 psychological level.
• Moving averages crossed bearish however price is recovering so this pair is bullish for now.
USDJPY Daily:
• Yesterday was very bullish with strong bull candle breaking through 108.94 resistance and closed above it.
• Now expecting some more bullish movement with the next target at 109.43 resistance.
USDJPY 4hr:
• On the lower timeframe price is in a very strong bullish trend forming higher highs & higher lows.
• After daily break of 108.94, its likely for price to retrace down to 108.75 support + 0.5 Fibonacci level and rollover to 109.43 to form new highs.
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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.