BluetonaFX - USDJPY 150 Finally Broken & Approaching Record High
Hi Traders!
USDJPY has finally broken its psychological level at 150 with momentum and is now approaching the record high Apex Level at 151.946, and we could possibly reach a new record high this week.
Price Action 📊
After weeks of trying to break above the psychological 150 level, the bears' resistance was finally broken, and now the market is trading with momentum, and the 152 handle looks to be the next target. All signals look bullish, although there might still be strong resistance here near the apex level due to it being a record high.
Fundamental Analysis 📰
Traders were very disappointed with the BoJ's recent policy decision a couple of weeks ago, and this has really shown in the market. There is serious concern now for the Japanese yen, and the Central Bank will surely have to intervene to stop the yen from weakening further.
Support 📉
141.805: PREVIOUS DAY'S LOW
Resistance 📈
151.946: APEX LEVEL
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
USDJPY has finally broken its psychological level at 150 with momentum and is now approaching the record high Apex Level at 151.946, and we could possibly reach a new record high this week.
Price Action 📊
After weeks of trying to break above the psychological 150 level, the bears' resistance was finally broken, and now the market is trading with momentum, and the 152 handle looks to be the next target. All signals look bullish, although there might still be strong resistance here near the apex level due to it being a record high.
Fundamental Analysis 📰
Traders were very disappointed with the BoJ's recent policy decision a couple of weeks ago, and this has really shown in the market. There is serious concern now for the Japanese yen, and the Central Bank will surely have to intervene to stop the yen from weakening further.
Support 📉
141.805: PREVIOUS DAY'S LOW
Resistance 📈
151.946: APEX LEVEL
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Comment:
Apex level reached. There is strong resistance there currently.
