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USDJPY has reached our first target, potential for further rise!

Long
Dolar USA/Jen Japoński (FX:USDJPY)  
Tickmill Broker  
FX:USDJPY   Dolar USA/Jen Japoński
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpybuy forexsignals
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trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpyshort usdjpylong usdjpyanalysis usdjpydaily usdjpybuy forexsignals
]USDJPY has shot up to our first forecasted resistance target. We’re now seeing that it has made another bullish exit of our long term descending resistance line and has formed a potential double bottom reversal. A strong bounce could occur above 106.41 support ( Fibonacci retracement, horizontal overlap support, bullish exit level) for a push up to 107.85 resistance (Fibonacci retracement, horizontal pullback resistance).

RSI (89) has made a similar bullish exit signaling a change in momentum is occurring.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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