USD/JPY Bullish Trend Line Cross Targets Higher Levels

April 20, 2018 12:48

Source: Admiral Markets MT5 with MT5SE Add-on

The USD/JPY has broken through a trend line boosted by rising 10 year US yields. The US 10-year yields were up and we can see the USD/JPY going up too. Leaned bullish W pattern and X cross of two trend lines are technically suggesting upside continuation. 107.05-20 is the POC zone and the pair could spike to the upside targeting 108.00. 4h candle close above 108.00 should give another boost to USD/JPY and the target is 108.50. Today is Friday so pay attention to profit taking later in the day.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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