USDJPY : Close to a breakout confirmation
Dear workmates !
Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen.
DXY 1D Timeframe View :
We have a strong MACD divergence on 1D timeframe of DXY giving a nice long signal on US Dollar. A falling wedge is forming indicating a nice long term perspective. MA confluence could reverse up and give a potential strong move up. These three elements make me confident that the dollar may trend up this week.
USDJPY 1D Timeframe View :
We are close to a breakout of a descending triangle on USDJPY. This could lead to a nice uptrend to 122 level then 124. MACD is close to cross the neutral line giving volatility potential.
A break of 120.28 level is a good signal to enter long.
Best Regards,
Serge
Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen.
DXY 1D Timeframe View :
We have a strong MACD divergence on 1D timeframe of DXY giving a nice long signal on US Dollar. A falling wedge is forming indicating a nice long term perspective. MA confluence could reverse up and give a potential strong move up. These three elements make me confident that the dollar may trend up this week.
USDJPY 1D Timeframe View :
We are close to a breakout of a descending triangle on USDJPY. This could lead to a nice uptrend to 122 level then 124. MACD is close to cross the neutral line giving volatility potential.
A break of 120.28 level is a good signal to enter long.
Best Regards,
Serge