USDJPY

22 Tem 2018

Price had an extremely bearish run at the end of last week due to Trump comments regarding the Central Banks hawkish stance on interest rates, USDJPY has now approached key weekly support level at 111.400 as well as retracement level 61.8 on the H4 time frame, with this information we are looking for bullish signs however we need to take note that the dollar index is at at supply levels with plenty exhaustion wicks on the weekly time frame, personally i think dollar bulls are looking to get back into the market and i will be looking for bullish signs on the H4 time frame i.e bullish engulfing candle sticks targeting the monthly resistance at 114.00