the daily chartist

Yen's ship sinking deeper

published 1 year ago

 USD/JPY keeps going up as Dollar is keeping beating the Yen with each day. Overall USD strength and its dramatic effect can be seen on this pair and this has been always. The pair on the Daily is in a good outlined uptrend with nice Fibo tests on the 50 level which has proven to be strong and a couple of days ago the pair has received its Golden Cross section. Since then the pair showed a more rapid advance, breaching 112. The pair will look to make a new high above the 100 Fibo to be adjusted if sentiment remains strong in favor of the Buck. If fundamentals are always in support of the US economy, the pair may skip the correction and move higher. There is a buying opportunity now to be more aggressive or wait for the breakout.