Key level of Price Action USDJPY to watch
USDJPY after testing 115.2 area rebound back and struggle at 116 to 116.2 before breakthrough and rally toward 116.8 area with the anticipation of U.S. President-Elect Trump Speaks.
Now back to key resistance area 116.8 to 117 area with key down-slope trendline in place. If retest on resistance successful, the downward momentum should continue and retest back previous support at 115 area and high chances it will break and create new low.
If down-slope trendline manage to break...the upward momentum should raise to test 117.5 before back to 118 to 118.5 key resistance area and the bull is back to control.
Now back to key resistance area 116.8 to 117 area with key down-slope trendline in place. If retest on resistance successful, the downward momentum should continue and retest back previous support at 115 area and high chances it will break and create new low.
If down-slope trendline manage to break...the upward momentum should raise to test 117.5 before back to 118 to 118.5 key resistance area and the bull is back to control.