After weeks of jpy falling against the dollar, jpy was able to pull out of its cloud computing course, leaving the cloud not an hour to buy, but the price could touch the first resistance and if the resistance breaks then the next resistance is coming.
And according to the downward trend of the usd / jpy analysis so the jpy / usd currency pair can...
The chart shows the JPY weighted index on a daily time frame, creating a bearish bat harmonic pattern.
Furthermore, the last 3 daily candles together have formed a three pin pattern (Evening Star formation) indicating bearish reversal.
I expect JPY to start showing signs of weakness in the next couple weeks across the board, meaning potential XXXJPY buys.
The Japanese yen is currently at a multiple tested support range at 0.00900. Here you have to look more closely and there are several possibilities:
1. Direct long positioning and stop loss under the support area
2. Wait for a stronger counter-move (for example higher closing price than the opening price yesterday) and then long positioning. Stop loss put under...