Wait to break out the support
USDJPY is testing the key resistance at 112.00. However, Bollinger Band is tightening, releasing the reversing signal. If it breaks out the key support at 111.65, the second top was confirmed. That should confirm the rebound from 110.35 is paused and decline is coming soon. It'll test 110.05 first and 110.60 next. Further decline should be seen to 110.28, the 61.8% retracement of 104.75 to 113.70. Upside, though, stably stand above 111.65, it'll keep focus back to 112.55 resistance instead.
The target is 110.60.
Turning point: 111.65.
Under 111.65, bearish , target price is set at 111.05, then 110.60.
Above 111.65, bullish , target price is 112.55, then 113.70.
RSI technical indicators mean the trend has been reversed.
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Prior Strategy:
The target is 110.60.
Turning point: 111.65.
Under 111.65, bearish , target price is set at 111.05, then 110.60.
Above 111.65, bullish , target price is 112.55, then 113.70.
RSI technical indicators mean the trend has been reversed.
If you like the strategy, please click "AGREE" and follow me. Your trust is my biggest motivation.
Prior Strategy:
Aviso legal
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