Good day everyone,
As you can see, USDJPY is in one of the most Crucial Area. This is is where the dump started years ago.
From Technical Perspective
- Base on DXY (Dollar index) we have reach the Pre-pandemic levels. This means, there will be a lot of Consolidation within the area for a couple of months.
- The Japanese Yen has been weak for months across all pairs, it will gain some strength soon.
- If we break the Crucial area, we might end up going to the Multi Multi year long resistance, but if it has trouble and starts consolidating with weak buy pressure, we can end up going down tremendously
As you can see, USDJPY is in one of the most Crucial Area. This is is where the dump started years ago.
From Technical Perspective
- Base on DXY (Dollar index) we have reach the Pre-pandemic levels. This means, there will be a lot of Consolidation within the area for a couple of months.
- The Japanese Yen has been weak for months across all pairs, it will gain some strength soon.
- If we break the Crucial area, we might end up going to the Multi Multi year long resistance, but if it has trouble and starts consolidating with weak buy pressure, we can end up going down tremendously