Towards the end of May 2022 USDJPY broke a downward resistance level , and has since moved to a multyear high. Since early June all 4 moving averages have attained a golden alignment.
Price seems to be moving nicely within a channel defined by the intraday Bollinger 2SD and the 10 MAV.
A long is suggested from a pullback to the 10 MAV.
The target is unknown as there is only clear space above. Suggested is the R3 Pivot point.
The trade is invalidated with a break of the recent swing low
The risk reward is 2.
Price seems to be moving nicely within a channel defined by the intraday Bollinger 2SD and the 10 MAV.
A long is suggested from a pullback to the 10 MAV.
The target is unknown as there is only clear space above. Suggested is the R3 Pivot point.
The trade is invalidated with a break of the recent swing low
The risk reward is 2.
Dollar Yen at 1.36 now. Look towards 1.42.