The USD/JPY
has practically the road clear to keep rising up to the 110.66 level, which is
the high of August, 2008. After the price broke the 200 Month Exponential
Moving Average to the upside, around the 105.80 level; the price continues with
a strong bullish momentum. Confirmation of the breakout of that 200 EMA may
come in the following months.
Since this
is precisely a Monthly chart, in order to see confirmation of the break out, we
may have to wait 2 or 3 more months. Let’s see how the price keeps behaving
around this zone and if indeed there is a continuation to the next high.
Technically there is nothing in the way that may stop the price before the
110.66, except some minor retracements on the way up.
Excellent analysis, I want to be watching developments and eventualy pick the oportunity
ReplyDeleteThank you for the analysis, I will keep an eye out.
ReplyDeleteGreat analysis. I'll keep a close eye on it.
ReplyDeletegreat analysis, thank you
ReplyDeleteI will keep eye on usdjpy.
ReplyDeleteAwesome. Thanks for the info!
ReplyDeleteGood post, thank you.
ReplyDeleteI agree and I don't want it stop going up.
ReplyDeleteVery informative! Thanks.
ReplyDelete