USD/JPY targeting 117.92

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Yen is seeking bullish suppoert by seeking the 117.92 level. This level will help define the price action for next week. Bouncing off this line will be bullish , breaking the level will be bearish . Please refresh chart periodically through the month of January.
Update, price has moved as expected. Hit vwap, hit lower boundary of 117.52, moved back within the band due to over extension. closed the gap between 7.0 deviation and the 5th deviation and has gone right back the the weekly regression level of 118.38. Continued closing above this level should allow bullish behavior on the front end of this week.
IvanLabrie coondawg71
Weekly bias is bearish imho, right now around a crucial prior congestion zone level.

Price technically hit, 15 min bar has not closed to indicate truer bias, but price hit none the less. +0.25 %
+1 Reply
price is getting squeeze hard into the symmetrical triangle
coondawg71 jangseohee
It sure is, a lot of energy to be released soon. The blue dashed line above is a Weekly Regression average. The red upward slope is the 2.618 linear regression deviation. A breaking of these lines is the tell. I feel we should see a break of the support and a move toward the vwap price mentioned @ 117.92 and then the support of the 5th deviation will help it resume a bullish movement next week.
+1 Reply
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