So here we go, the big break-out we've been waiting for - or is it? Let's assume that the USDJPY pair continues it's upwards march towards it's June 2015 high, we're then looking at 3-6 months worth of upwards movement and thousands of pips.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below the 111.000 region would be perfect, however this could also mean a total reversal of the "break-out" and resumption of the downwards trend.
Somewhere during the beginning of 2019, TA shows that we can expect an event to occur near the 38.2% weekly Fibo line. This may be a strong re-test of the support, or even a downwards breakout.
Expect TP's as high as 124.000 to 126.00 region. MANY updates to follow.
Comment
⋅
After Trump's rant on Thursday about the FED being wrong he seems to have triggered a good correction within the market. Congrats to everyone who caught that movement by the way.
We're now closer than ever to the buy zone.
Comment
⋅
4-hour Doji formed just underneath the Buy Zone line. Awaiting buy confirmation.
Your Analysis is very constructive and educational. I appreciate the good work. Thanks for the enlightment.
Lyiness
⋅
The USD / JPY currency pair has been working on a rising wedge over the past approximately six weeks, moving closer to a trendline that has been flattening since 2015. Yesterday the pair broke out of the wedge and is currently trading above the 2015 trendline.
While the price is above the long-term trendline on a daily basis, a week-end above the trendline could do much to provide additional conviction over the three-year period. In a full breakthrough, USD / JPY should move towards the middle 114.00 / 115.00 JPY range. The preferred approach is to pay attention to dip opportunities
A return inside and below the bottom of the wedge and the trendline from the March low will negate the bullish outburst and potentially bring a strong downward move in the face of the false outbreak. Given the current strength, a low probability