USDJPY: Bullish short term. Attention at the top of the Channel.

16 Mei

USDJPY is neutral on its 1D technical outlook (RSI = 53.858, MACD = 0.730, ADX = 52.633) and is rebounding after almost the second 1D MA50 test in 2 weeks. The pair is capitalizing on the bullish momentum of the 1 year Channel Up but this rebound could be the last before a correction, as the price is very close to the HH top trendline. Our goal is still that top (TP = 160.000).

See how our prior idea has worked out:

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