USDJPY is in a strong uptrend. POC zone stands at 119.70-75 region and we can see an intra week trend line, 61.8 fib and previous buyers cluster. If USDJPY breaks 120.00 zone ( H3, 38.2 fib ) it might test 119.70-75 for a potential fresh long scenario towards today’s highs at 120.40. Only if H1 candle closes above h4 and sustained break of 120.40 is seen the pair may proceed to 120.80. if it fails at 119.70 then we could see a pullback towards 119.30.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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