RLinda ! USDJPY-> Will the Japanese yen start to weaken again?

6 בינו׳ 2023

USDJPY has been in a downtrend since mid-October. The Japanese yen has started to strengthen on the back of a declining dollar index, which is due to a number of fundamental factors

What is happening now might weaken the yen considerably. The price is breaking through the resistance of the descending channel on the 4-hour chart. If the price strengthens above the support at 133.600, the bulls might send it to 137 and even 142.

I expect a trend reversal attempt after the price fixes above support at 133.600. The medium-term target is 137, the long-term target is 142.25 and maybe even 151.9.

Regards R. Linda!