On Friday, UsdJpy had a spectacular reversal with a rise of almost 200 pips. This puts in a BIG bullish engulfing on our daily chart and gives us reason to believe that 104 is bottom.
Now the pair is trading close to 106 resistance and a correction is normal from here.
Buy dips is my strategy for this pair and I expect 105 to be a strong bid zone.
A break above 106 would expose 108 resistance
Now the pair is trading close to 106 resistance and a correction is normal from here.
Buy dips is my strategy for this pair and I expect 105 to be a strong bid zone.
A break above 106 would expose 108 resistance
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.