USDJPY - LONG TRAE - LONG TERM SWING
Over the past few months we have seen price hit major resistance and retrace to retest the major bearish trend line. Over the past 2 weeks price has tested and failed to break through this bearish trend line suggesting price is ready to continue on its bullish run. In addition, recent news about the BOJ increasing stimulus will surely impact the Yen negatively allowing the US DOLLAR to gain strength.
We predict price will break through the read resistance bar and continue to retest monthly highs. Risk to reward ratio of 7.2
We predict price will break through the read resistance bar and continue to retest monthly highs. Risk to reward ratio of 7.2
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.