Title
USDJPY Potential for bullish rise towards overlap resistance
Type
Bullish Bounce
Preference:
Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.
Looking for price to retest the pivot which is the overlap support. Expecting price to then continue heading towards the overlap resistance.
The support level is here.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.