USDJPY Is Very Bullish! Long!

Take a look at our analysis for USDJPY.

Time Frame: 5h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is approaching a key horizontal level 141.941.

Considering the today's price action, probabilities will be high to see a movement to 143.676.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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I am confident in this trade so I will keep it open!