IvanLabrie

USDJPY: Longer term perspective is still bullish

Lång
FX:USDJPY   USA-dollar/Japansk yen
I've been watching this chart closely, and I think we might see a great buy setup in the near short term.
Eyeing the area between 121.43 and 122.34, with invalidation for this signal below 118.968, potential upside is 137.94 in 6 months or less.
We don't get significant trends in FX very often, and this is one of them. I'll be monitoring the Yen to enter a longer term position in it, since I consider the risk/reward and probabilities to be on the bullish side here.
The fundamental odds favor this position as well, I included The Working Trader's idea in the related ideas field since I consider his input valuable. It's good when both technicals and fundamentals agree, just have to be patient for the right setup to pop.
Good luck,
Ivan.

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