Mihai_Iacob

UsdJpy to continue its rise and test 140

OANDA:USDJPY   דולר אמריקאי / יין יפני
On the 4th of May, I've written that UsdJpy could reverse from strong support and retest 138 zone resistance.
Indeed, after a double tap under 134, confirming a strong demand zone around this figure, the pair started to rise and after a strong bullish candle yesterday, reached my target.
Although we are in a strong resistance zone, I expect this level to be broken and the pair to rise once more and test 140.
Of course, correction is possible at this moment, but this drop should be considered a good buying opportunity in search of a good risk: reward considering the up mentioned target
136 should provide support now.

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