💱 USD/JPY Long-term Outlook
💱 Nearest strong support zone: around recent lows.
💱 Nearest strong resistance zone: around the fibo levels of the 0.236 downward wave.
💱 Technical environment:
📊 Moving averages: 50/50
📊 MACD: Uptrend
📊 RSI: 50/50
💱 Price action: USD/JPY After we predicted in the last posts a bounce from the resistance zone and a pullback in price. This time we are waiting for a retest of the zone. Why not a breakout through the high? An upside breakout, in my opinion, with the Japanese Yen on the rise and still unfinished correction on the US dollar on many pairs seems unlikely. I expect more of an accumulation at current levels for some time which only after some time may end up scoring a larger upward correction on this pair.
📈 The scenario I am playing out is a retest of the resistance zone. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile. 🚀
💱 Nearest strong support zone: around recent lows.
💱 Nearest strong resistance zone: around the fibo levels of the 0.236 downward wave.
💱 Technical environment:
📊 Moving averages: 50/50
📊 MACD: Uptrend
📊 RSI: 50/50
💱 Price action: USD/JPY After we predicted in the last posts a bounce from the resistance zone and a pullback in price. This time we are waiting for a retest of the zone. Why not a breakout through the high? An upside breakout, in my opinion, with the Japanese Yen on the rise and still unfinished correction on the US dollar on many pairs seems unlikely. I expect more of an accumulation at current levels for some time which only after some time may end up scoring a larger upward correction on this pair.
📈 The scenario I am playing out is a retest of the resistance zone. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile. 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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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.
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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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.