After dropping from 159.90 all the way to 157.51, USDJPY bounced back up but failed to go through the March 16th NWOG and after reaching the C.E., it dropped back again, reaching the March 9th NWOG High and then went back up, currently being traded at 158.50.
I prefer not to see USDJPY go below the 158.22 level and go higher without reaching there first.
I expect USDJPY to go for the resistance at around 159.01 level and try to overcome it and go to test the March 23rd NWOG.
However, if USDJPY fails to stay above the 158.22 level and goes below it, it could drop further into the March 9th NWOG, and if it goes below the C.E. of the gap at 157.96, it could drop even further into the Feb 9th NWOG.
I prefer not to see USDJPY go below the 158.22 level and go higher without reaching there first.
I expect USDJPY to go for the resistance at around 159.01 level and try to overcome it and go to test the March 23rd NWOG.
However, if USDJPY fails to stay above the 158.22 level and goes below it, it could drop further into the March 9th NWOG, and if it goes below the C.E. of the gap at 157.96, it could drop even further into the Feb 9th NWOG.
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Free channel: t.me/AmirAliTrading_Official
Join OurBit with my link and you'll be added to Crypto Premium channel for free: ourbit.com/register?inviteCode=JSB5ZW
Contact me: t.me/Amirali_Trading
Join OurBit with my link and you'll be added to Crypto Premium channel for free: ourbit.com/register?inviteCode=JSB5ZW
Contact me: t.me/Amirali_Trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.