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
. 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!