Hi Traders!
There is a potential bull flag forming on the 1D USDJPY chart. Our bullish outlook on the US dollar continues, and the potential bull flag here is supporting this. We are currently in the flag channel, and we are looking for a break to the upside of the channel. The important price level here to look out for is 146.564; this is August's high, and we must break this level to continue to the upside.
A break with momentum above 146.564 and the psychological level of 150.00 will be in sight.
That being said, though we are bullish, as always here at BluetonaFX, we do not get attached to a view and must be ready to adapt at all times. If 146.564 does not break, the potential bull flag will fail and the market will most likely pullback, so we will look for selling opportunities around this level.
Please remember to like, comment, and follow, as your support greatly helps.
Thank you for your support.
BluetonaFX
There is a potential bull flag forming on the 1D USDJPY chart. Our bullish outlook on the US dollar continues, and the potential bull flag here is supporting this. We are currently in the flag channel, and we are looking for a break to the upside of the channel. The important price level here to look out for is 146.564; this is August's high, and we must break this level to continue to the upside.
A break with momentum above 146.564 and the psychological level of 150.00 will be in sight.
That being said, though we are bullish, as always here at BluetonaFX, we do not get attached to a view and must be ready to adapt at all times. If 146.564 does not break, the potential bull flag will fail and the market will most likely pullback, so we will look for selling opportunities around this level.
Please remember to like, comment, and follow, as your support greatly helps.
Thank you for your support.
BluetonaFX
Market is trying to break and close above the 146.564 resistance level.