BUY THE DIPS! USDJPY UPTREND STILL STRONGLY INTACT
UPTREND IN USDJPY IS STILL STRONGLY INTACT!
USDJPY faces multiple support barriers as evident on the main daily chart. These supporting rising trendlines could only amplify the fact that uptrend is still intact and the price could very well crawl slowly slowly towards 118.000 target resistance in the coming months. The FED could start the tightening cycle this month and in the coming months too. With the inflation still on the rise, we could expect the USD to appreciate against the SAFEHAVEN YEN. The Ukraine -Russian crisis can only be seen as the BUY THE DIP opportunity in this current market scenario
USDJPY faces multiple support barriers as evident on the main daily chart. These supporting rising trendlines could only amplify the fact that uptrend is still intact and the price could very well crawl slowly slowly towards 118.000 target resistance in the coming months. The FED could start the tightening cycle this month and in the coming months too. With the inflation still on the rise, we could expect the USD to appreciate against the SAFEHAVEN YEN. The Ukraine -Russian crisis can only be seen as the BUY THE DIP opportunity in this current market scenario
