USDJPY reversing the long term downtrend
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USDJPY is testing the 125.500 – 126 zone for a complete upside reversal for a long-term base. As you can see on the monthly chart, price action looks like the break above 126Â is warranted, but we want more confirmation of a break at these highs.Â
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The weekly chart shows clear uptrend support now, and any pullbacks from 126 could be contained at 118. A clear confirmed break above 126.500 would signal parabolic upside continuation to 135. Indicators are still supportive of the upside reversal continuation.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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