We see here a movement along an ascending channel pattern for the pair. Currently, the pair has reached a significant resistance level and is also close to the top of the ascending channel. While the long term trend for USDJPY is bullish, i believe that there will be a short term correction to the downside before there is enough momentum built up to continue the bullish run.
My TP level is around the 109 level and i will look to taking a long if my TP is fulfilled.
Do look at my previous USDJPY analysis to see how i manage to accurately predict the pair's movement. I hope it will be the same this time.
My TP level is around the 109 level and i will look to taking a long if my TP is fulfilled.
Do look at my previous USDJPY analysis to see how i manage to accurately predict the pair's movement. I hope it will be the same this time.