USD/JPY – Week 26 – Targeting the trendline.
In our previous outlook, we expected USDJPY to drop towards the trendline. Instead, the price reached new highs but soon after gave some signs of exhaustion.
For next week, we expect the pair to reach the trendline. If it breaks and consolidates underneath, we will consider further bearish momentum. If not, then we will most likely bounce back up and make a new high.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For next week, we expect the pair to reach the trendline. If it breaks and consolidates underneath, we will consider further bearish momentum. If not, then we will most likely bounce back up and make a new high.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
