DariusAnucauskas
Short

USDJPY - Daily - For the week ahead.

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
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!
Comment: APOLOGIES, THIS IS A WEEKLY CHART!
Comment: Still, the same idea applies.
Comment: We did get the mentioned 112.5 today. Now let's see how the week will close.
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