The USD/JPY is going up in a strong bullish zigzag that is supported by ascending trend line. Market is expecting a 0.25 % rate increase and it could have already been priced in the USD/JPY bullish move. However before the Federal Funds Rate decision and FOMC statement we might have another bullish setup within POC zone. 114.85- 115.00 (L3, DPP, 38.2, EMA89, ascending trend line) could reject the price if we see a retracement. The target is 116.10. If we don't see a retracement then a 4h close or strong 1h momentum above 116.12 could spike the price up towards H5 -116.70. So pay attention either to a retracement or spike above H4 camarilla pivot.

USDJPY

 

USD/JPY Current Trading Positions"

Sell 25%
Buy 75%
100.0%25.0%020304050607080901000
Avg Sell Price 112.00
Avg Buy Price 112.61
Liquidity Distribution
106.90111.8296.00106.90111.8296.00SellBuy

 

Trading with currencies and CFDs is speculative in nature and could involve the risk of loss. Such trading is not suitable for all investors. Before using the services of Admiral Markets AS please acknowledge the risks associated with trading, terms and conditions of the services and consult and expert if necessary.

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