USD/JPY:
The US dollar index once again broke through the new high before 20, reaching the price of 120. The yen rose 2% against the dollar yesterday after the Japanese finance minister announced direct intervention to defend its currency, and the dollar surged to 142.31 levels after the Bank of Japan remained dovish. But the current dollar’s continued strength has prompted prices to continue to rise.
The price on the H4 chart formed a false breakout, standing above the support level.
From the RSI indicator on the H1 chart, the price has stabilized above 50, indicating that the trend is in an upward phase. And the price has also successfully broken through the upper resistance level. If it continues to stand firm at the price of 143, it will continue to maintain an upward trend.
Order suggestion:
Go short.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
