USDJPY: Consolidating before Resumption!
Hello Friends,
The USDJPY looks like it's back to up-trending mode, at least for the short term. After the price managed to maintain a bullish wave with higher highs and higher lows. To settle back above the main 200-days SMA Barrier. Meantime, the price has been consolidating in a rectangle pattern above 122.10-20 support.
Holding above that level keeps the upside favored. with main targets at the next potential resistance levels at 125.00 and 125.80. If we break back below the 200-days SMA currently around 121.50 the bullish scenario may be threatened and we should re-consider it. I will update this analysis in that case. For now, I look for the short term bullish trend to continue.
WE ARE FINALLY LIVE. Visit, and give your opinion through a comment : thefxchannel.com/technical-analysis/4687/
Best Regards
Technician
The USDJPY looks like it's back to up-trending mode, at least for the short term. After the price managed to maintain a bullish wave with higher highs and higher lows. To settle back above the main 200-days SMA Barrier. Meantime, the price has been consolidating in a rectangle pattern above 122.10-20 support.
Holding above that level keeps the upside favored. with main targets at the next potential resistance levels at 125.00 and 125.80. If we break back below the 200-days SMA currently around 121.50 the bullish scenario may be threatened and we should re-consider it. I will update this analysis in that case. For now, I look for the short term bullish trend to continue.
WE ARE FINALLY LIVE. Visit, and give your opinion through a comment : thefxchannel.com/technical-analysis/4687/
Best Regards
Technician
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.