In mid-2015, uptrend transfer led USD/JPY to 125.85. In Q1-16, the worth broke beneath the neckline of the top and shoulders sample positioned at 116.25. This began a downtrend transfer and led the pair in mid-2016 to 98.98 – its lowest degree in practically three years. The value rallied after as sellers exited the market nevertheless, continued creating decrease highs.
USD/JPY Month-to-month Chart
USD/JPY – Trendless Transfer
Wanting on the month-to-month chart, we discover that by the tip of Q1-18, USD/JPY corrected its draw back transfer and created the next low at 104.63. Since then, the pair has consolidated buying and selling in a tough 1000 pips vary. Due to this fact, the worth would wish a break above 114.73 or beneath 104.74 to finish present sideways transfer.
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Written By: Mahmoud Alkudsi
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