💱 USDJPY - The pair continues to strengthen. Target 142.0
The USDJPY is breaking forward amid a strengthening dollar. The currency pair breaks the resistance at 140.882, after which the price stops and forms a correction from 141.5
TA on the high timeframe:
1) Price breaks through the high again. 140.725 level opens new high - 142.25
2) There is a void ahead and after a local consolidation the price may continue its growth, but only if the fundamental background is positive for the dollar
TA on the low timeframe:
1) Breach of resistance at 140.882 and rise to 141.5. Price stops and forms a correction
2) Tested the 0.236 Fibo level, price may head deeper if buyers fail to hold the 140.882 level.
3) The uptrend continues
4) There is a high probability that growth from 140.979 will continue
Key support: 140.979, 140.882
Key resistance: 141.5
TA on the high timeframe:
1) Price breaks through the high again. 140.725 level opens new high - 142.25
2) There is a void ahead and after a local consolidation the price may continue its growth, but only if the fundamental background is positive for the dollar
TA on the low timeframe:
1) Breach of resistance at 140.882 and rise to 141.5. Price stops and forms a correction
2) Tested the 0.236 Fibo level, price may head deeper if buyers fail to hold the 140.882 level.
3) The uptrend continues
4) There is a high probability that growth from 140.979 will continue
Key support: 140.979, 140.882
Key resistance: 141.5
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