USDJPY - The resistance of 2017
Last week we've arrived to an important resistance level at 114,5.
This level is the 2017 multi month resistance. It took the first quarter to break below it and was tested back again and again in this year.
We broke the 8 hrs chart up trend line yesterday. If the break above 114,5 was allowed to happen price needs to recover above the blue trendline in the following hours. In this case we will have the final pivot for the uptrend. When that breaks the bull party is over.
This level is the 2017 multi month resistance. It took the first quarter to break below it and was tested back again and again in this year.
We broke the 8 hrs chart up trend line yesterday. If the break above 114,5 was allowed to happen price needs to recover above the blue trendline in the following hours. In this case we will have the final pivot for the uptrend. When that breaks the bull party is over.
Comment:
