HoracioEM

HoracioEM

The USDJPY is currently at the bottom of this long-term channel, we may see a reversal back to the top of the channel to make new highs. To support this reversal prediction we can see a lower low double bottom forming as well as good support for the bottom of the trendline.

HoracioEM

After a decent retrace breaking the bottom of the bearish channel USDJPY seems to aim at creating a new major high.

HoracioEM

From the weekly view there is a break of the bottom channel which sets up UJ for a move towards a new high, 176 looks like a good target.

HoracioEM

UJ looks to be in a bullish channel with the next peak around at least $155. On the way up a retrace may be taking place as lower highs created a double top or head and shoulders pattern. Possible measured move down to a fifty percent retrace. My Take Profit target is a little earlier than the midway mark due to the overall bullish sentiment of the market. Stop...