Mihai_Iacob

UsdJpy to resume its uptrend?

Long
FX:USDJPY   US-Dollar / Japanischer Yen
Since the beginning of March, following the important 115 zone break, UsdJpy entered a very strong up trend with the pair gaining more than 3500 pips, which is translated into more than 30%, which is immense for a pair like UsdJpy.
After two BoJ interventions, one at the 145 zone and the second marking the 152 top, the pair finally cooled down and corrected strongly.
However, the overall trend remains bullish and I have no reason to think that this will change.
At this moment the pair is trading exactly in a strong confluence support given by the trend line, the horizontal level, and the 140 figure, and a resumption to the upside is probable.
My target for this rise is in the 145 zone, technical resistance, and the level for the first BoJ intervention.


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