Alright, trading family, we’re eyeing 153.07 as the next big wave for USD/JPY, but the ride might not be smooth. Expect a couple of corrective dips along the way, likely around those skinnier orange lines on the chart. Once we hit 153, the market will likely pause for a correction, though how deep that goes is still unknown until we get there. After that...
On 30-min chat, the currency pair could not cross the resistance (blue line) and broke the support (red line), targeting down to 148.6 In case the movement is reversing , crossing the resistance will target 150.54
RSI on monthly chart = 83. RSI on weekly chart = over 82. RSI daily chart = over 80. How long it can go up without a correction?
I don’t really trade Forex, unless something catches my attention. USDJPN has been climbing for a while now. On weekly chart it is overbought and even the strongest move need to take a brake once in a while, Either if you look on EMAs or Fibonacci levels, correction can reach area 139-141.2. It doesn’t mean it will but according to my analisys, most of the...
After an impressive 8.3% rally, the Nikkei 225 is hitting the daily long-term downtrend line.Watch price action here. Be ready to short JPN 225 and USDJPY. I have not opened any positions yet.