In the last post on the USDJPY, price was up 9% since breaking above resistance
at 125.85, which is the high from June 2015. Price has now moved up an extra 1%,
bringing the total to 10%.
Price is forming a neat linear trend with small clean pullbacks along the way up.
The 20 simple moving average on the daily timeframe has been acting as support.
The next major level of resistance is at 147.67, which is from the high formed back
in August 1998. There is still enough room to compound in this trend which could
even see price exceed levels of resistance if it remains impulsive.
Patience for now, as usual, as we wait for the next setup signal to add further positions.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
at 125.85, which is the high from June 2015. Price has now moved up an extra 1%,
bringing the total to 10%.
Price is forming a neat linear trend with small clean pullbacks along the way up.
The 20 simple moving average on the daily timeframe has been acting as support.
The next major level of resistance is at 147.67, which is from the high formed back
in August 1998. There is still enough room to compound in this trend which could
even see price exceed levels of resistance if it remains impulsive.
Patience for now, as usual, as we wait for the next setup signal to add further positions.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
