HELLO TRADERS
before we take a look at USDJPY first lets talk about the dollar index DXY
DXY has been testing a strong resistance @ 101.4 and bounced off quite strongly and as we are currently testing the resistance again we expect a strong reaction to the upside
(see DXY chart below)
and as we know bullish DXY indicates bullish USDJPY
now back to USDJPY.
USDJPY has been bullish, broke above a strong resistance @ 135 and now we are retesting back to it
we expect a continuation higher to the previous highs @ 137.6
BREAK BELOW 134.5 WILL INVALIDATE THIS IDEA
GOOD LUCK
before we take a look at USDJPY first lets talk about the dollar index DXY
DXY has been testing a strong resistance @ 101.4 and bounced off quite strongly and as we are currently testing the resistance again we expect a strong reaction to the upside
(see DXY chart below)
now back to USDJPY.
USDJPY has been bullish, broke above a strong resistance @ 135 and now we are retesting back to it
we expect a continuation higher to the previous highs @ 137.6
BREAK BELOW 134.5 WILL INVALIDATE THIS IDEA
GOOD LUCK
