USDJPY → Resistance breakdown with a pulse of 1.80%

28 Apr 2023

USDJPY finally breaks the resistance and forms a strong momentum at 1.80% on the back of local growth of the dollar index.

The currency pair enters a new range of 135.00 - 138.00. Consolidation of the price above the support will open the potential for growth to the strong resistance of 137.91.
Locally, we observe an uptrend, hence, a breakthrough of the uptrend resistance can only accelerate the vdizhening of the currency pair.
Moving averages MA-50 and MA-200 on the 4-hour timeframe are acting as support.

Strong support: 135.00, upper boundary of the uptrend channel.
Strong resistance: 136.9, 137.9
I expect a small technical rollback with the subsequent growth in the short and medium term.

Sincerely R. Linda!

29 Apr 2023

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