The reason why I am still firmly convinced that this movement is going to happen is supported by several compelling factors. Let's explore them in detail: 1.Non-commercials continue to aggressively add long positions in this currency pair. This indicates a strong bullish sentiment and suggests that these market participants have high expectations for its future...
usdjpy has been trending upwards for the previous months and has broken a monthly resistance. We will be expecting longs for the coming months.
my humble analysis . We see head and shoulders usdjpy ==> 153 jpy usdjpy ==> 190 jpy
USDJPY may have either a strong bullish markup or potential bullish exhaustion for the last week of Feb 2021. In addition, the price level happened to be within a confluence of axis line and intersection of long term bearish and short term bullish equidistant channel. 107 which is near 61.8% retracement, seems an ideal level to be ready to short USDJPY.
Dates in the future with the greatest probability for a price high or price low
Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron