EWForecast
Long

USD JPY - Patiently waiting to go long

FX:USDJPY   U.S. Dollar/Japanese Yen
38 0 0
USD JPY is still holding a weekly support TL around 101 - 101.3. What's important is to see a weekly close above or below this level.

Short term wise, USD JPY has two paths. In the first scenario (preferred scenario), it can test 100.3, the daily TL support and 200 DMA and continue rally from there. The second scenario is it can drop down to 99 (equal leg), and then rally higher.

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