Hi everyone.
We have seen a lot of movement on USDJPY since Sunday's opening of 124.300, hopefully you were able to capitalize! I am still bullish on the pairing and will continue to be until we see prices in the 130.000+ range.
Based on current trends the bull run can continue or we will see short retracements.
If the price reaches 125.750 I will enter a buy with a first TP of 126.050 and a second TP/resistance of 126.300, yesterday's high. There is a strong likelihood that the pairing will blow past this price and I will base new setups on the last time the price reached this point in March/April 2002.
If the price goes down to 125.130, we will see a short retracement and I will enter a sell at 125.130 with a TP of 124.600 and a support area of 124.000.
For more frequent updates be sure to like this post and let me know what you think of this analysis in the comments.
We have seen a lot of movement on USDJPY since Sunday's opening of 124.300, hopefully you were able to capitalize! I am still bullish on the pairing and will continue to be until we see prices in the 130.000+ range.
Based on current trends the bull run can continue or we will see short retracements.
If the price reaches 125.750 I will enter a buy with a first TP of 126.050 and a second TP/resistance of 126.300, yesterday's high. There is a strong likelihood that the pairing will blow past this price and I will base new setups on the last time the price reached this point in March/April 2002.
If the price goes down to 125.130, we will see a short retracement and I will enter a sell at 125.130 with a TP of 124.600 and a support area of 124.000.
For more frequent updates be sure to like this post and let me know what you think of this analysis in the comments.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.