VantageFX

USDJPY right on major support, time to start buying!

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Price is bouncing nicely off major support at 112.04 ( Fibonacci retracement , Fibonacci extension , horizontal overlap support area ) and we expect to see a strong push up to at least 113.11 resistance ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance).

Stochastic (55,3,1) is seeing major support above 4.8% and we expect a strong bounce above this level.

Comments

Yuppp!
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In contrary, I bet on Short. 112.73 last Friday's retracement mark the Fibo 0.382, looks that in short term 0.382 fibo will be the highest. Next week JPY will be around 111.50, best case 111.
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thx for the analzis, sir
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I knew it hahaha I seen yet another Head & shoulders pattern yesterday and seeing how UJ likes to do fake-outs, it's going up f0r another ride up in the 113 area smh lol
Great analysis keep it up
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