What traders and investors now anticipate is whether the line would be broken. A break above 113 would put some pressure on bears as this could be a possible discontinuation of the trend and the formation of a new uptrend move.
On the other hand, if price remains in the channel, bears would attempt to bring it down to potential target at 110.10, second target is expected at 108 and major short-term target is 107.
Chart: USD/JPY H4
Good point. I'll keep a close eye on it.
ReplyDeleteLet's see what effect the fundamentals will have on it this week.
ReplyDeleteI think it will continue rallying to 119.00.
ReplyDeleteUseful information, thanks!
ReplyDeleteGood post.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteExcellent analysis, thank you!
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDelete