Hi Traders!
Please see target levels for USDJPY below.
TARGET 1 - 142.255
TARGET 2 - 144.108
*APEX LEVEL* - 151.946
USDJPY continues with bullish momentum. A couple of weeks ago, we had a long term view (link to idea below) that USDJPY would target the 140.000 level. However, we did not think it would do this so quickly.
After a brief pullback from the 140.000 level, we have carried on with momentum and the 142.255 pivot resistance level looks to be the next target.
Further to the upside, if we break 142.255, then we have the 145.108 pivot resistance and finally, we have our Apex resistance level at 151.946.
*The Apex (our way of saying special resistance) level* of 151.946 is an area we do not often reach. We have only reached this area a handful of times in the past 40 years, so this is a major resistance level.
To the downside, if we fail to push around the 140 level and break back below the 138.136 pivot support, we will then go back into the range.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX
Please see target levels for USDJPY below.
TARGET 1 - 142.255
TARGET 2 - 144.108
*APEX LEVEL* - 151.946
USDJPY continues with bullish momentum. A couple of weeks ago, we had a long term view (link to idea below) that USDJPY would target the 140.000 level. However, we did not think it would do this so quickly.
After a brief pullback from the 140.000 level, we have carried on with momentum and the 142.255 pivot resistance level looks to be the next target.
Further to the upside, if we break 142.255, then we have the 145.108 pivot resistance and finally, we have our Apex resistance level at 151.946.
*The Apex (our way of saying special resistance) level* of 151.946 is an area we do not often reach. We have only reached this area a handful of times in the past 40 years, so this is a major resistance level.
To the downside, if we fail to push around the 140 level and break back below the 138.136 pivot support, we will then go back into the range.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX
