In a very very long term time frame (Monthly), the JPY pairs could be in a very important breakout position and time now! and maybe really need to watch out!
The price has touched and closing to two long term channels pressure lines crossing area. If this time, it could be able to break out to North, then, it is break out two long term pressure lines and the power should be very strong.
The timing is clearly cut the chart into 4 pieces, and the price has clear turning in each time line. Now, it is in the fourth time movement period and the current direction is going to North.
So, in a long long term strategy, the JPY pairs could be going North for long time until year of 2033 and the target position is previous high around 227.
In short term, the price is showing intension to break out the pressure lines.
Further, since the predication period is too long, it is only for main direction analysis and daily trade still need to focus on shorter time frame.
Comment
⋅
This strategy looks like triggered.
Trade active
⋅
Long CAD/JPY as expectation.
Comment
⋅
Possible break out the important pressure area and go north