USDJPY Is Very Bullish! Long!
Updated
Please, check our technical outlook for USDJPY.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 142.209.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 142.787 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Trade closed: target reached
That was an excellent trade and the target was reached too!
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