USDJPY; RETEST AND CONTINUATION HIGHER!
HELLO TRADERS
Before we talk about USDJPY lets first take a look at the dollar index DXY
DXY is currently retesting a strong support @ 101.3 and we expect a reaction higher, a bullish DXY indicates a bullish USDJPY
(DXY chart below)
USDJPY has been bullish and respecting an ascending channel, broke above resistance and currently retesting a confluence of both the strong resistance and the channel @ 134.8
we expect a continuation higher
our targets will be, the previous highs @ 137.8 and the next resistance @ 138.9
BREAK BELOW 133.5 WILL INVALIDATE THIS IDEA
GOOD LUCK
Before we talk about USDJPY lets first take a look at the dollar index DXY
DXY is currently retesting a strong support @ 101.3 and we expect a reaction higher, a bullish DXY indicates a bullish USDJPY
(DXY chart below)
USDJPY has been bullish and respecting an ascending channel, broke above resistance and currently retesting a confluence of both the strong resistance and the channel @ 134.8
we expect a continuation higher
our targets will be, the previous highs @ 137.8 and the next resistance @ 138.9
BREAK BELOW 133.5 WILL INVALIDATE THIS IDEA
GOOD LUCK
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