USDJPY - Daily - Back inside the channel
Trade Alert
Trading has been quite difficult lately on USDJPY. Over the past week, it was slightly difficult to predict a potential direction in this pair.
Judging from the current picture, we can see that after a recent drop, USDJPY got back inside the rising channel, which is a good sign of strength for the pair. If it takes out the 110.85 level, then this is opening the path towards the 111.40 area, marked by the highs of May. If the rate continues to rise, then we could start aiming for the 112.00 zone.
Always have your SL in place.
Trading has been quite difficult lately on USDJPY. Over the past week, it was slightly difficult to predict a potential direction in this pair.
Judging from the current picture, we can see that after a recent drop, USDJPY got back inside the rising channel, which is a good sign of strength for the pair. If it takes out the 110.85 level, then this is opening the path towards the 111.40 area, marked by the highs of May. If the rate continues to rise, then we could start aiming for the 112.00 zone.
Always have your SL in place.