Good morning traders, today we bring you our long-term analysis on the USD/JPY pair, as we consider that it is at a decisive point.
🔸The price is against a Resistance Zone where every time it is faced it has found some kind of reaction.
🔸At this moment, it is slightly above, so we could consider that it is entering the buying zone.
🔸If this move is confirmed, we could see strong bullish momentum over the next few months.
🔸The target of this movement is the long-term Descending Trendline, since it is before the nearest supply zone.
🔸And, finally, in case the price fails to confirm the rise and heads in a bearish direction, the target is the Ascending Trendline.
🔸The price is against a Resistance Zone where every time it is faced it has found some kind of reaction.
🔸At this moment, it is slightly above, so we could consider that it is entering the buying zone.
🔸If this move is confirmed, we could see strong bullish momentum over the next few months.
🔸The target of this movement is the long-term Descending Trendline, since it is before the nearest supply zone.
🔸And, finally, in case the price fails to confirm the rise and heads in a bearish direction, the target is the Ascending Trendline.