Cabana Capitals Blog Technical Analysis USDJPY approaching important bullish key level

USDJPY approaching important bullish key level

USDJPY approaching important bullish key level post thumbnail image

USDJPY is heading towards 155.2400 and could reach this point within the next 18 hours. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

Supported by Upward sloping Moving Average

Target: 155.24 Entry: 155.003 Stop: 154.7777

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