USD/JPY Analysis - page 54

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Chris Mukengeshayi:

I think it will go down to the 103.94 and from there we may start to think about an up trend

I expected that too, but it rebounded from 104.60 after forming a double bottom at that support.

 
Diana Jackson:

I expected that too, but it rebounded from 104.60 after forming a double bottom at that support.

it trying to create that uncertainty among traders on the H4 and D1, have a look at the weekly TF, let wait and see, what is more important is the current trend direction on the H4, D1 and W1

 
It seems very undecided on the large time frames as well. I think it is rallying back to 106.00.
 
The USDJPY has been pulling back during the last two trading sessions, but it keeps its bearish trend. For now, the 106.00 level may act as resistance, but in order for the pair to continue with its bearish trend, it must break below the 105.00 level.
 

Well I was just scrolling down my page and I saw one of the guy who usually share some screen shot, I had a look at it and it pretty much explain everything just by looking at it you will understand where the market is heading.

Here is the picture:

USDJPY on the 27/03/2018 at 16:23 UTC

 

USD/JPY is consolidating around 150.65. Immediate resistance is seen at 105.80, while the downside is supported by 105.55.
 
The pair reached 106.00, I think the correction may continue to 106.60 if it manages to break out above 106.00.
 
It even reached 107.00 but it is correcting now. I think it will depreciate to 106.00.
 
Diana Jackson:
It even reached 107.00 but it is correcting now. I think it will depreciate to 106.00.
the 106.00 is better
 
Very good rally on the USDJPY, but the 107.00 is acting as resistance along with the 55 day EMA, which is just above the 107.00 level. A breakout above the 55 day EMA may change the direction on the USDJPY, but for now the bearish trend is still in place. The 105.00 zone is still its most relevant support.
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