USD/JPY is still staying well inside the falling channel that started back in 2007 at 124.13. There is no indication of trend reversal yet even though medium term downside momentum is diminishing with bullish convergence condition in weekly MACD
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USD/JPY is still staying well inside the falling channel that started back in 2007 at 124.13. There is no indication of trend reversal yet even though medium term downside momentum is diminishing with bullish convergence condition in weekly MACD
as we can see from the chart , the pair has stated it's trading week above the level of 76.50 and that's mean that the up trend is expected this week and the pair might head to 76.75 and then 77.00
I think it will fall more and break all time low which is around 75.88 soon, UJ is falling from quite a long time no chance for USD to recover.
we can see that the pair has failed in breaking 76.50 and bounced from it , so that's mean the down trend is expected and the pair might head to 76.20 and then 76.00
price just broke the recent resistance and now move around for 1st re-test.
there is indicate a bull flag pattern as well.
will wait for the break of the pattern for safer entry.
the pair and as we can see from the chart has closed it's daily candle under the level of 76.50 , so , that's mean the down trend is still standing and the pair is heading to 76.20 then 76.00
Because of this – we cannot sell, but finding a longer-term buying opportunity is going to be tricky at this point. For the long-term trader, waiting is simply going to be the name of the game in this pair.
USDJPY was undecided yesterday. The immediate bias is neutral for now until a clear break below 76.20, but on long term the bias still remains bearish especially if price maintains around 76.60, making new historical lows.
The pair is still being held afloat in the 76 area, as traders simply haven’t been able to test the resolve of the Bank of Japan openly
This is a market that looks like it trying very hard to establish some form of a base after recently setting fresh record lows just under 76.00