USDJPY → False break of support, Yen weakens. 160.0 again?

RLinda Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY fell under the correction wave, which was caused by the liquidation of buyers based on the change in the fundamental sentiment of the dollar index. It didn't last long.

Buyers liquidation on the back of strong bullish trend. (A big player collects the position)

In general, both technically and fundamentally, the situation remains unfavorable for the Japanese yen. The national currency may continue to weaken and thus test the current ATH.
False breakdown of trend support brings the price back to the range of 155.95-157.23. Possible retest of resistance with the subsequent breakout and growth to the far liquidity zones.

Resistance levels: 157.23, 158.44
Support levels: 155.95, 154.77

The bulls should hold the defense above 155.95 with the aim to continue rising. The intermediate key point is 157.23 with the possibility of further breakout and growth.

Regards R. Linda!
Consolidation above the key support is forming.
Closing of the session will determine the short- and medium-term potential for traders
Trade closed: target reached:
Target 1 reached
A break of 157.235 will continue the momentum
Pre-breakout consolidation is forming
Possible breakout of 157.23
Trade active:
Resistance retest with a breakout target
A breakthrough is forming
Trade active:
Consolidation is forming above 157.23.
If the bulls hold this area, further 158-160
Trade active:
Breakout of key resistance.
the first target will be reached soon
Trade active:
The resistance at 158.44 has been tested. We are waiting for a breakthrough and further growth
Trade closed: target reached:
Target 2 reached
Trade active:
After breaking through resistance, the currency pair is actively going upwards on the background of a weak yen
Trade active:
There's not much left to the goal...
We continue to hold
Trade closed: target reached:
160.21 reached!



You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:


🧿Web: rlinda.com

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.