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ruby_kinetix
Oct 3, 2019 8:48 PM

$USDJPY potential for excess low Long

USD/JPYOANDA

Description

USDJPY is potential for making an excess low (spring) at daily structure. if there is a new buyer, this will bring USDJPY to the 109 level which I consider as an axis line, which mean 108.45 resistant zone is expected to be broken. This resistant I consider as a poor high. This Bullish bias will not be easy, because we need DXY , the US dollar index to go higher too. Otherwise, the bearish will still in control an it may test 105.50-105 support zone. This is not clear yet as DXY do have a responsive buyer after breaking the structure.
We need to see USDJPY to trade above 107 to see bullish power, otherwise it will trade lower.
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