My preferences for today are to go long above 119.6 with a target at 120.5 and stop ;oss at 119.4.
Market should not go lower than 119.09 - 118.78. After this move down it should go up to 119.59 - 119.78 area.
I believe the pullbacks should offer plenty of support near the 120.75 level, so really at this point in time { have no intentions whatsoever of selling this particular currency pair. Ultimately, I believe that this pair goes to the 125 level and beyond.
122.10 level was broken and this fact suggests that the upward trend would develop. The purpose of the bulls to test the resistance of 124.10.
If the pair losses 122.70 support, there will be downward trend. You had better not trade for a while. It's difficult now to understand where the price will go.
The pair continues to go to 125.00 level. But you shouldn’t buy it now, because price is near strong 124.60-125.00 level, so it may go down. I’m waiting it at 123.50 and 123.00 area for buying. I don’t want to sell it.
The USD/JPU finally was able to break through the strong psychological resistance level at around 125,10 and close the day above this level, it now acts as a support... I expect the upward movement will continue in the area 126, but it also can roll back to the level 124.85.
As expected, yesterday the currency pair USD/JPY got out of the triangle in the South by breaking 80 points during the session, that is a good result for it in recent times! Today the pair is going through correction and tries to overcome resistance level 123.98, and if it gets above 124.00,you ned to buy to the resistance level 124.28. Indicators hint at the possibility of buying a pair. Support levels for today - 123.48 and 123.18.
The fifth week in run, the US dollar has been falling against the yen, approaching the lower border of the rising channel 116.60. As long as trade is within the channel, trend remains bullish in the medium term.
Today on the chart of the currency pair USD/JPY we can see how it has reached the upper border of the trade channel, but failed to pass it, and indicators show us that the pair can now be sold to the support levels 119.89 and 119.40 and we can close positions. Buying should be considered at these levels of support, because with a high probability it will retreat to the north.
The pair is being traded with growth from the sloping support line, as long as inclined line is held, growth scenario remains in force. Resistance level is 119.90. Support level is 119.20, if it is broken, the pair may fall from it to the support level 118.55 and then set up a trend.
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