huge sell off pressure for UJ last week. Saw some GREAT strides by the YEN to surpass that 93.7 level on JXY. Jump to 94.6 makes it overbought ATM hence why I like UJ to buy back up to the 106.85 levels DXY also hit my 94.64 COVID breakout level and is striving to retest such if not 95.20ish. These are my 2 confirmations as well as an end of the month buy push...
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Key levels for this week - 106.70 105.10 104.75 - Going into this week looking for bearish continuation - Any pullbacks towards key level will be used for new entries Weekly forecast/Sunday analysis highlights the overall market trend with key levels to get an idea of the best targets in the upcoming week(s)! Projection of the market with technical analysis...
Trade outlook for USD/JPY. Close 1/3 of trade half way to target
As we can see, the moving averages are lined up nicely for a buy. Whenever the smallest moving average is on the bottom and so on and so fourth, it tends to indicate that the market is signaling a reversal to the upside. Just bored, on this Sunday morning so I'm trying to give my bias. Hopefully someone has a takeaway from this idea.
USD/JPY bearish on Quarterly and Monthly. Tomorrow, Initial Jobless Claims is being released, which may be the catalyst for UJ to hit the 61.8% fib, then reverse to -27.00%.
looking for potential drop on usdjpy.. key news to look at is the release of job employment rates and nfp news shortly