Hi Traders!
USDJPY is near the psychological 150.000 level, and it looks to possibly re-test its 3-month high at 151.911.
Here are the details:
Looking at the price action, it looks bullish; the bull flag, along with the previous yearly high, has broken. The next big test is as the market approaches the 150 handle. There may be some strong resistance here, as this is the first time this year the market is approaching the 150 handle.
As long as the market is still above the 20 EMA, our view will remain bullish. The plan here is to monitor the price action near 150; if there is a momentum break and a close above 150, then 151. 911 is the next big target.
Preferred Direction: Buy
Technical Indicators: 20 EMA
Resistance 1: 150.000
Resistance 2: 151.911
Support: 148.808
Please make sure to click on the like/boost button, 🚀as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
USDJPY is near the psychological 150.000 level, and it looks to possibly re-test its 3-month high at 151.911.
Here are the details:
Looking at the price action, it looks bullish; the bull flag, along with the previous yearly high, has broken. The next big test is as the market approaches the 150 handle. There may be some strong resistance here, as this is the first time this year the market is approaching the 150 handle.
As long as the market is still above the 20 EMA, our view will remain bullish. The plan here is to monitor the price action near 150; if there is a momentum break and a close above 150, then 151. 911 is the next big target.
Preferred Direction: Buy
Technical Indicators: 20 EMA
Resistance 1: 150.000
Resistance 2: 151.911
Support: 148.808
Please make sure to click on the like/boost button, 🚀as your support greatly helps.
Trade safely and responsibly.
BluetonaFX