Forex Signals

USDJPY – Expecting the Breakout


The USDJPY pair currently develops a bearish corrective move of the bullish impulsive sequence that began on March 09th, at level 101.227 and found sellers at level 111.715.

Currently, the price action looks like found short-term support near level 107. The risk-on sentiment driven in the Monday trading session could boost the price until previous highs.


A bullish position will activate if the price breaks and closes above 108.29. Our conservative scenario foresees a potential target at 110.816. The level that invalidates our scenario is placed at 106.712.


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By Eduardo Vargas

Eduardo Vargas is a technical analyst and independent trader based in Buenos Aires, Argentina. He is an Industrial Engineer and holds a Master in Finance degree. In 2008 began to trade Chilean stocks listed on IPSA. From 2013 started to trade CFDs on Forex, Commodities, Indices and ETFs markets. He analyses different markets combining the Elliott Wave analysis with Fibonacci tools. He provides a market mid-long-term vision.

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