Thursday, April 26, 2018

The Bullish USD/JPY Trend Will Remain In The Medium Term

 As I expected, USD/JPY continued moving to the upside>>>  and for the last week the pair has rallied with 180 pips (from 107.656 to 109.469).
I expect that next week the move north will last until 110.50, after which there could be a corrective depreciation of about 150 pips, which means it could reach 109.00 - 108.80.

The main trend, however, will remain bullish, and the pair, I think, will reach the resistance trend line around 111.60 – 112.00.

For the moment the pair is developing within a trend channel that is over 1000 pips wide, but it is possible for it to form a different pattern in the long term.