I've been very bullish on the USDJPY (sustained yen weakness combined with US dollar strength)
A couple of conditions have led to this bullishness
1) Got interested; price broke above the downward trendline
2) First confirmation; price broke above the 23.60% Fibonacci level (133 price level)
Now I'll be additionally bullish if the price breaks above the 38.2% Fibonacci retracement level, which could bring the target level of 142.20 within sight (this also aligns with the 61.8% fib level)
Now to watch if BoJ Governor Nominee Ueda makes any drastic changes. No changes to the monetary policy could support further upside moves on the USDJPY
A couple of conditions have led to this bullishness
1) Got interested; price broke above the downward trendline
2) First confirmation; price broke above the 23.60% Fibonacci level (133 price level)
Now I'll be additionally bullish if the price breaks above the 38.2% Fibonacci retracement level, which could bring the target level of 142.20 within sight (this also aligns with the 61.8% fib level)
Now to watch if BoJ Governor Nominee Ueda makes any drastic changes. No changes to the monetary policy could support further upside moves on the USDJPY
