USD/JPY – Trend reversal above 106.64

FX:USDJPY   U.S. Dollar/Japanese Yen
Pair’s retreat to 105.549 from near falling channel hurdle despite having rebounded from 104.19 (23.6% of Jan 29 high – June 24 low) suggests upticks are likely to be met with offers until we have a day end closing above 106.64 (38.2% of 2011 low – 2015 high).

A bullish daily close could happen on hawkish Fed. On the other hand, dovish Fed statement could yield a drop to 104.19 levels.

Interesting observation – Gold             and Yen …both topped out in 2011 and bottomed out in 2015! We have head and shoulder formation on gold             as well as Cypher formation with Leg at $1240 is under progress. This makes me wonder if we are going to have a bullish break in USD/JPY             (& hawkish Fed).

Check what the City expert has to say on USD/JPY             here - https://www.youtube.com/watch?v=a3gxXZULfbk
7 months ago
cheers ..
7 months ago
Hawkish Feds a bullish bias gave me this analysis as well. Here's the lower timeframe, with (bear with me) long term target. If the break occurs at fulcrum point I'll like to see a measured move up in the coming days into next week.

TipTVFinance PRO Steven_Maas
7 months ago
Nice one wot do u think about tomorrow's BOJ?
Steven_Maas TipTVFinance
7 months ago
Oh I'm sorry, I'm afraid I lack all of the necessary experience to say anything solid about fundamentals. Turns out this move (based merely on TA) is probably 'delayed'; as well as all the other analyses I've done this week. Either that or my TA's are just invalid, which logically could be the case.
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