Hi Guys,
With USDJPY ended with a hammer on the weekly chart, thus we are looking for it to move up this week.
On the Daily chart, a closing wedge is formed. If it can close above 108.40, there will be a chance of it to head north more due to hammer on the weekll chart.
Market is moving sideway based on hourly chart since friday due to USD holiday. If it can break out of the rectangular, we can see the next resistance range (107.12-107.26) or support range (106.33-106.18) be reached.
My view is that it is definately not a strong sell for USDJPY for this week. Your comment
With USDJPY ended with a hammer on the weekly chart, thus we are looking for it to move up this week.
On the Daily chart, a closing wedge is formed. If it can close above 108.40, there will be a chance of it to head north more due to hammer on the weekll chart.
Market is moving sideway based on hourly chart since friday due to USD holiday. If it can break out of the rectangular, we can see the next resistance range (107.12-107.26) or support range (106.33-106.18) be reached.
My view is that it is definately not a strong sell for USDJPY for this week. Your comment
May the pips be with me !!!