Both the Weekly and Daily Ichimoku Chart for $USDJPY (USD/JPY) shows the price level hitting a very good support level. I am expecting that it will bounce from this level and head back to the 85 level.
Tag: Japanese yen
USD/JPY : Poised for breakout
This is my first forex post. On the Ichimoku’s Weekly Chart, USD/JPY is breaking out of the kumo resistance. Given this is a Weekly Chart, a breakout above it could mean a 2 year move. The last time the USD/JPY breakdown from the Weekly kumo support is back in 2007.