Interesting article on Reuters about the 8 year cycle in USDJPY, prompting me to take a look at the long term charts.
123.10 offers a strong resistance with confluence of trend line + past resistance level. Also the sharp break out from the multi year falling price channel tells us a possible test to the break out level is very likely.
Set an alert near 123 - 123.5 levels and monitor for weekly (or monthly) candlestick patterns for now.
Patience, pays!!
Happy New Year!!
Reuters Story: reut.rs/1x09IEe
123.10 offers a strong resistance with confluence of trend line + past resistance level. Also the sharp break out from the multi year falling price channel tells us a possible test to the break out level is very likely.
Set an alert near 123 - 123.5 levels and monitor for weekly (or monthly) candlestick patterns for now.
Patience, pays!!
Happy New Year!!
Reuters Story: reut.rs/1x09IEe
