Despite Gov Kuroda's speech where he was worried about the Yen weakness, Yen slightly jumped then went back retracing gains.
USD/JPY Technical Analysis
Uptrend continues
W H5 is next
M H4 provides continuation
The scope for 130 will be open
4H Chart USD/JPY
Low
High
Second touch
IO pattern
Target
Despite Gov Kuroda’s speech where he was worried about the Yen weakness, Yen slightly jumped then went back retracing gains. USD/JPY formed an IO pattern that is bullish, so the next target should be 127.41. If it breaks then the way towards 130.00 is open. The structure on H4 is clearly bullish and I bought the cross.
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