A Closer Look At USDJPY

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Two days ago USDJPY broke above major trendline and have pushed higher since. Also mentioned a week ago that this pair was still bullish on a lower time frame. Though at this point anybody can look at this chart and say it's super bullish , however, in my opinion, not only is it near key resistance level of 112.50, there's also a divergence on both MACD and RSI . In addition to that, if you're Elliot Wave fanatic then you'd agree that we are looking at wave count number 5. We'll see!

Happy Trading, folks!



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