USDJPY - Daily - For the week ahead.
I will make a call here and say: "SHORT".
Again, I might be wrong, but hear me out.
I think that in the long run it will break the upper trend line and head higher. But for it to do that, I think it needs a good drop in the price and then move higher. But that's only what I think. in reality it will do what ever it wants, of course.
For this upcoming week, I am aiming for 112.500 . I understand that this might sound a lot, but we've got the 200 MA at around 112 that could be touched. That's why I think 112.500 could be quite realistic.
On the other hand, if this somehow will get close to that upper trend line, which worked as a perfect resistance level, then I will be waiting for a break and close above it, that could lead us to new higher levels. Especially I will be watching the 114.454 level, that acted as a strong resistance level a few times.
Keep an eye on the price action, everybody!
Again, I might be wrong, but hear me out.
I think that in the long run it will break the upper trend line and head higher. But for it to do that, I think it needs a good drop in the price and then move higher. But that's only what I think. in reality it will do what ever it wants, of course.
For this upcoming week, I am aiming for 112.500 . I understand that this might sound a lot, but we've got the 200 MA at around 112 that could be touched. That's why I think 112.500 could be quite realistic.
On the other hand, if this somehow will get close to that upper trend line, which worked as a perfect resistance level, then I will be waiting for a break and close above it, that could lead us to new higher levels. Especially I will be watching the 114.454 level, that acted as a strong resistance level a few times.
Keep an eye on the price action, everybody!
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APOLOGIES, THIS IS A WEEKLY CHART!
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Still, the same idea applies.
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We did get the mentioned 112.5 today. Now let's see how the week will close.
