USDJPY continues bullish run

USDJPY continues bullish run

Key Support: 105.20 – 105-50 105.70
Key Resistance: 106.20

Long Term View
The USDJPY has been rallying since earlier this month when it bottomed at 104.40 (178 pip ride from low to high)

1H Analysis
We have pulled back 50% from the highs and bounced from the 61.8% pullback of last week´s range
The UJ is still in an uptrend and has opened up the week stronger with a stronger USD (DXY at weekly pivot).

We have broken with the bull flag and the daily highs on a possible move to retest the previous weekly highs.

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Author : Orlando Gutierrez

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