USDJPY bullish based weak yen and not strong dollar
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
This is one of the most important pairs to keep an eye on this week. There are rumours that BOJ intervened during the last week when price touched 110.67 levels. This is also significant technical level where price is just above yearly S2 pivot and 618 Fib retracement from the last year range. This is also a technical support zone. A lot of support below current levels and break below 110 is highly unlikely. BOJ said that their are ready to step in if necessary so this can be nice place to start building portfolio. On 4h chart there are LL LHs so there might be a room for further declines towards 111. levels where is excellent buying zone.
This is one of the most important pairs to keep an eye on this week. There are rumours that BOJ intervened during the last week when price touched 110.67 levels. This is also significant technical level where price is just above yearly S2 pivot and 618 Fib retracement from the last year range. This is also a technical support zone. A lot of support below current levels and break below 110 is highly unlikely. BOJ said that their are ready to step in if necessary so this can be nice place to start building portfolio. On 4h chart there are LL LHs so there might be a room for further declines towards 111. levels where is excellent buying zone.
