Long-term Analysis of USDJPY:
This pair is navigating through the waves of Dow Theory, and for the past several weeks, it seems to be gearing up in an accumulation phase, setting the stage for a potent rally aimed at the Fibonacci extension target of 1.618 (equivalent to 176.500).
However, this scenario hinges entirely on breaking through the 152.000 resistance level. It's crucial to stay on top of market news to seize the moment promptly.
This pair is navigating through the waves of Dow Theory, and for the past several weeks, it seems to be gearing up in an accumulation phase, setting the stage for a potent rally aimed at the Fibonacci extension target of 1.618 (equivalent to 176.500).
However, this scenario hinges entirely on breaking through the 152.000 resistance level. It's crucial to stay on top of market news to seize the moment promptly.
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