The USD/JPY pair is bearish in the long term, and bullish in the short term. Much did not happen on Monday, but a directional movement is anticipated, which would result in either a Bullish Confirmation Pattern, or a Bearish Confirmation Pattern, especially in the 4-hour chart. A rise in volatility is in the offing.
There is currently a Bullish Confirmation Pattern in the 4-hour chart, and thus, price is expected to go further upwards, reaching other supply levels at 107.50 and 108.00. However, a strong pullback is also a possibility.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
The USD/JPY pair is bearish in the long term, and bullish in the short term. Much did not happen on Monday, but a directional movement is anticipated, which would result in either a Bullish Confirmation Pattern, or a Bearish Confirmation Pattern, especially in the 4-hour chart. A rise in volatility is in the offing.
There is currently a Bullish Confirmation Pattern in the 4-hour chart, and thus, price is expected to go further upwards, reaching other supply levels at 107.50 and 108.00. However, a strong pullback is also a possibility.
The material has been provided by InstaForex Company – www.instaforex.com
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