As you can see in the chart The USD broke the resistance of 135 against the JPY after crossing to the upside the exponential moving average of 377 months which is something that is not usually seen.
I will try to enter a long in the retest of 135, with an stop loss at 129.6. For the targets i recommend to keep locking profits and the main target is 175.
Clarification:
I'm not Japanese so i can not go long in dollars because i would be making nothing, I use this (USDJPY) because I see it more clearly than in JPYUSD.
So going long here means opening a short position in JPYUSD at 0.007407 with stop at 0.007716 and main target 0.00571.
If you agree give a boost and I will be glad to see points of view in the comments, if you think that I'm wrong tell me why.
Regards and happy trading.
I will try to enter a long in the retest of 135, with an stop loss at 129.6. For the targets i recommend to keep locking profits and the main target is 175.
Clarification:
I'm not Japanese so i can not go long in dollars because i would be making nothing, I use this (USDJPY) because I see it more clearly than in JPYUSD.
So going long here means opening a short position in JPYUSD at 0.007407 with stop at 0.007716 and main target 0.00571.
If you agree give a boost and I will be glad to see points of view in the comments, if you think that I'm wrong tell me why.
Regards and happy trading.