Weekly Technical Analysis Report 18 August – USDJPY could see further upside this week
August 19, 2021
Weekly Technical Analysis Report 18 August – USDJPY could see further upside this week
1. This week’s outlook on USDJPY: Bullish play seen
Looking at the daily time frame, prices are testing the support of the ascending channel , in line with the 78.6% Fibonacci retracement and 100% Fibonacci extension where a pullback to test this area presents an opportunity to play the bounce. The next resistance target at 110.58 lines up with the graphical high and 61.8% Fibonacci retracement.
Outlook on USDJPY: Bullish play seen by Salzworth on TradingView.com
