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Joseph_Yabwa
Apr 5, 2020 3:29 PM

Is The USDJPY On The Verge Of Breaking Out? LONG USDJPY Long

USD/JPYOANDA

Description

Okay so looking at this pair on a weekly chart we can clearly see 3 wave corrective structure and I wouldn't be surprised if we get an upside break in the next few weeks. The fundamentals also support this scenario based on the crisis that's going on around the world at the moment. This coronavirus has created uncertainty around the world and in times of uncertainty, everyone wants a piece of the world's most liquid currency. So the appetite towards the USD should remain firmly supported by the coronavirus pandemic and fears of global recession.

As of today, 1/3 of the world is in lockdown. If you are an optimist then the earliest time you could see any kind of activity resuming will be around early May and that could push the need to USD even higher.

Any opposing view, comments or arguments are welcomed
Comments
anjy
this caught my attention...keep up! newbie here
Joseph_Yabwa
@anjy, Thank you, don't forget to follow and keep supporting
kasart
this looks very promising. only a matter of time now
Joseph_Yabwa
@kasart, Yes you are right bro and we will likely get that move this week
practor
Wow so neat and precise! Excellent work
Joseph_Yabwa
@practor thanks mate! I try my best
Joseph_Yabwa
@practor thanks for the comment and like
Ninijonne
Great analysis, thank you!
Joseph_Yabwa
@Ninijonne, Thanks for the feedback bro, i appreciate it
Joseph_Yabwa
@Ninijonne, & thanks for taking your time to comment
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