At present the usdjpy
is nudging the 100 moving average via weekly chart and hovering over the 20ma via Monthly chart. It's a sandwich. If a bullish
dollar pushes the usdjpy
above the present price zone and it holds, there isn't much standing in its way to reach 120 -121 price levels.
I am bullish
the dollar, so I'm betting on a rise.
Weekly R1: 114.59, R2: 116.09 Weekly S1: 110.91
Monthly R1: 118.97, S1: 105.56
maybe a return to 110.78 before a rise? Comments welcome.