ProFX_Strategist

Breaking Through - Will It Succeed?

FX:USDJPY   U.S. Dollar/Japanese Yen
26 0 6
"Now price is at a vital point; will it pullback?"

Dear traders, there are bullish signs for this pair...

The RSI is nicely above it's neutrality level of 50 (& not at overbought zone); as such, we can keep our focus higher... Additionally, the MACD/AO is bullish ...

The bright-green MA is well above the bright-red MA now (up-trending price signal)... But it would be wise to anticipate a possible pullback because the bright-green MA could inch closer back to the bright-red MA below...

Caution: The price is currently pushing through cloud-resistances (but if the price should break above the dark-red MA, then the price has technically broken free & will be ready to climb even higher)...

The magenta color line is a traditional strong support...

Best regards.
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