USDJPY breaks free the 107.500 and keep going!
As with the dollar strengthen and Yen weakens, its obvious that the bulls are back. But for how long? I've been trained to use the ichi and grew very custom to it. I do use the basic support and resistance as a reference to retrace my trades or to see where the price will consolidate or you can say to its next stop. As we see that it retraced today in the 108.600 area. It seems to bounce back from the 9 on the 4h chart. With how it looks, it's clear for the bulls to run until the 109.500 area as it holds a strong resistance area from the looks of it on the daily. Also, take note on the ichimoku cloud its right on the resistance cloud as well. So this might be another area to spectate to wether the bulls will march on or the bears will take control of the playing field.
Hope you traders are having a bullish week and lets catch these pips and not feelings.
Hope you traders are having a bullish week and lets catch these pips and not feelings.
As for the past couple hours it seems like on the hourly it made a small pullback around the 109.220 area resistance. With the stock market showing a strong sign for the dollar. Also, with how the 10 Year Treasury Yield breaches 3% . I can see the bulls breaking that resistance soon and the cloud as well. But we shall see!
Let's have a good trading day and let's make these profits!