nmike

USD/JPY daily (update)

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
4
2 months ago I published a monthly chart of USD/JPY At that time I noticed a significant DIVERGENCE. On monthly frames DIVERGENCE is a sign that a long term bottom is in place and a start of a new bull phase. Now we have this parabolic move run up as seen on the daily chart . This move will most likely continue to at least the KEY resistance if price can clear the top of CLONE of A. Isn't it interesting that the top edge of the green CLONE sits almost exactly beneath the KEY resistance level .

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