ðŸ’ąUSD/JPY Opportunity For Continued IncreasesðŸ’ą

ðŸ’ąUSD/JPY Opportunity For Continued Increases

ðŸ’ąThis post is a direct continuation of my previous post:
ðŸ’ąUSD/JPY Time for correctionðŸ’ą


ðŸ’ąAfter the declines of December 20 due to the intervention of the Bank of Japan, the USD/JPY is doing quite well in terms of increases.

ðŸ’ąIt can be seen that the sentiment is still pro-growth.

ðŸ’ąAlso, the technical environment supports pro-growth scenarios.

ðŸ’ąIt looks like there is a high probability of reaching the resistance zone marked on the chart, which is located around the 0.236 level of the entire downward wave from the peak to the current low.

ðŸ’ąI determined the support zone based on where the price has repeatedly found support as well as resistance.

ðŸ’ąThe scenario I'm playing out is a continuation of growth to the vicinity of the resistance zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

ðŸ’ą*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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Chart PatternsdollarForexTechnical IndicatorsjapaneseyenjpyLONGTrend AnalysisUSDUSDJPY

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