USD/JPY Bearish Below the Two POC Zones

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The USD/JPY made a strong move up after US-Chinese news re tariffs. The deal is possible and we might see a fewer rate cuts.

Despite the strong spike, we could see a drop from 106.50-65 and 107.10-20 if the price retraces a bit more. Two POC zones are still holding the price below the Weekly resistance levels. W H5 is the final resistance and the trend will turn bullish if the pair makes a close above it. For a bearish move, targets are 106.15 and 105.89. Below 105.89 we could see a retest of 105.14.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of