💱 USDJPY - The rally may continue, but on the condition
The USDJPY is stalling after a strong rally. We should pay attention to the fact that the price is not forming a strong pullback. There is a possibility of a break through the resistance for further strengthening towards 140 and 141
TA on the high timeframe:
1) We see a pullback from 140.918 to 0.236 Fibo, where a triangle-like consolidation begins to form
2) Strong bullish trend does not allow the price to fall and after capturing the liquidity below 139.1 (false-break), the price starts to strengthen
TA on the low timeframe:
1) We see a nice and clear triangle.
2) A consolidation is formed near the level of 139.65. Most likely, the price is preparing to break it.
3) If the price breaks through 139.65, a retest of the wedge resistance will be formed. If the price breaks through the area, we will see continued growth.
4) If there will be a bounce from resistance, but the currency pair will head towards 139.00
Key resistance: 139.65
Key support: 139.33
TA on the high timeframe:
1) We see a pullback from 140.918 to 0.236 Fibo, where a triangle-like consolidation begins to form
2) Strong bullish trend does not allow the price to fall and after capturing the liquidity below 139.1 (false-break), the price starts to strengthen
TA on the low timeframe:
1) We see a nice and clear triangle.
2) A consolidation is formed near the level of 139.65. Most likely, the price is preparing to break it.
3) If the price breaks through 139.65, a retest of the wedge resistance will be formed. If the price breaks through the area, we will see continued growth.
4) If there will be a bounce from resistance, but the currency pair will head towards 139.00
Key resistance: 139.65
Key support: 139.33
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
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.