Long term trend: Up
Medium term trend: Up
Significant levels: 110.00 (Significant Round Number), 114.70 (Horizontal Support), 117.90 (Horizontal Resistance), Fibonacci Retracement
The rally of this pair is extremely a strong move. After the price broke the 110.00 Significant Round Number, the price didn't stop going up. The trend of this currency pair is so solid that it is unstoppable. Definitely, we are going to go Long on every dip on this pair, of course, considering the significant levels in the chart. As of now, we cannot place a trade as the price is so high and we might be caught up in a retracement. We found a support level at 114.70 and that is where we want to trade. We need to see how the market will react to that level. If it gives us a bullish price action, we'll definitely trade it.
We are absolutely bullish with this currency pair so don't think of considering to sell this pair. USDJPY is in a strong uptrend now.
Trade well.
Medium term trend: Up
Significant levels: 110.00 (Significant Round Number), 114.70 (Horizontal Support), 117.90 (Horizontal Resistance), Fibonacci Retracement
The rally of this pair is extremely a strong move. After the price broke the 110.00 Significant Round Number, the price didn't stop going up. The trend of this currency pair is so solid that it is unstoppable. Definitely, we are going to go Long on every dip on this pair, of course, considering the significant levels in the chart. As of now, we cannot place a trade as the price is so high and we might be caught up in a retracement. We found a support level at 114.70 and that is where we want to trade. We need to see how the market will react to that level. If it gives us a bullish price action, we'll definitely trade it.
We are absolutely bullish with this currency pair so don't think of considering to sell this pair. USDJPY is in a strong uptrend now.
Trade well.