BluetonaFX - USDJPY Dollar Strength On Positive NFP Figure
Hi Traders!
USDJPY's bullish outlook is still in play after a better-than-expected NFP announcement to end the week on a positive note for the US dollar after a bad week of data releases.
The number came in at 187k, beating analysts expectations of 169k. USDJPY before the figure was around the demand zone at the 145 level and is now trading just under the 146 level. A momentum break below the demand zone would have been a potential reversal of the bullish momentum we have had on this pair for the past few months.
Our bull flag idea (link below) is still in play, and the next target is likely to be at 147.378 (the August 2023 high). A break above this level and the psychological 150 level will be the next long-term target.
Please do not forget to like, comment, and follow.
Thank you for your support.
BluetonaFX
USDJPY's bullish outlook is still in play after a better-than-expected NFP announcement to end the week on a positive note for the US dollar after a bad week of data releases.
The number came in at 187k, beating analysts expectations of 169k. USDJPY before the figure was around the demand zone at the 145 level and is now trading just under the 146 level. A momentum break below the demand zone would have been a potential reversal of the bullish momentum we have had on this pair for the past few months.
Our bull flag idea (link below) is still in play, and the next target is likely to be at 147.378 (the August 2023 high). A break above this level and the psychological 150 level will be the next long-term target.
Please do not forget to like, comment, and follow.
Thank you for your support.
BluetonaFX
