TradingView
RLinda
Dec 12, 2022 9:01 AM

RLinda ! USDJPY-> Breaking through channel resistance  Long

U.S. Dollar/Japanese YenFXCM

Description

The USDJPY after reaching its multi-year high of 151.94 and against the background of weakening fundamentals has locally changed its trend. The Japanese Yen has strengthened, but now the price shows the reasons, which might weaken the Yen again.

On the chart I marked a price channel (bearish) and today there is a breakdown of the channel resistance and price consolidation above the 136.708 level (and above the previously broken channel boundary)

With the final fixation of the price above the line we may see growth. Short term target is resistance 139.38, medium term target is liquidity area 142.25

Regards to R. Linda!

Trade active

Comments
RLinda
Hello traders! What do u think of JPY?
sadeghmousavi1989
@RLinda, i agree
JoeChampion
Nice one Linda, keep it up!
xiaodaocheng
Still valid?
hulisaniramabulana113
yes yesterday see buy
InkyGrip
Nice outlook
StewySongs
🙏🙏🙏
BKTradingAcademy
Thanks friend! Looking forward to trading UJ during tomorrows CPI report 👌🏽
TheSignalyst
I agree, many JPY pairs melted the last 2 weeks. I can see a short-term bullish movement too
More