A resilient consolidation into the end of last week, after a dip and a bounce from trend line/ retrace support, now at at 120.90/72 to leave a bull theme for March.
The push last week through the December cycle high at 121.86 sets a far more bullish tone.
Short-term Outlook - Upside Risks:
- We see a challenge to a key long term retracement at 122.45.
- The March threat is now for the 2007, multi-year high, at 124.16.
A taster of the report above. To view the full USDJPY report with screencasts, levels and more, click here
Remember, for a FREE trial of our FX and all other reports, sign up by clicking here
2 Hour USDJPY Chart
Monthly USDJPY Chart