The 5%ers' Blog
Will USDJPY Continue The Bullish Momentum
April 8, 2019 | 1:44 pm | The 5%ers' Blog
April 8, 2019 | 1:44 pm
The 5%ers' Blog

Usually, when the price is in bullish momentum, the only thing that can stop this momentum is a strong supply level with a massive amount of unfilled orders, on a daily chart on USDJPY, we can see that the next fresh supply is only at 113.00 zones, therefore, I believe that in the long terms the price tends to reach there and for that reason I’ll look for a Continuation level to join this momentum, the demand below seems like a great demand for buy position as a continuation trade, it is also 0.382 Fibonacci level, the combination of These two reasons creates a great opportunity for buy position, I’ll at 0.382 Fibonacci level, and my final target will be 113.00 zones,

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