OANDA:USDJPY   U.S. Dollar / Japanese Yen
In the recent analysis, I discussed about the potential bullish reversal on UJ as I noticed a probe at 103.000 key support zone followed by a higher low sequence violating a healthy downtrend. Currently will be looking for short-term buying opportunities with 104.700 & 105.550 resistance zones as targets, as long the current support zone holds (103.600 - 103.700), remain bullish bias as it could be a typical exhaustion pattern before further bullish continuation. However, If we noticed a sudden selling pressure kicks in violating the current support zone , we could expect short-term bearish rotation with 103.000 support zone as the target. The current price action is slightly choppy, avoid having your targets too far. Do not forget the overall trend on the higher timeframe remains bullish .

Trade safe.

Do follow my profile for daily fx forecast & educational content.
Comment: Friday's (15th Jan) analysis

Join our Telegram community where like-minded traders are connected: https://t.me/Neotradingfx

Comments

aud is strong market can go with upward movement cheers
+1 Reply
TraderNeoh fahadfastion
@fahadfastion, This is UJ.
Reply
fahadfastion TraderNeoh
@TraderNeoh, good analysis
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out