Weekly Technical Analysis Report 25 Aug – Bullish outlook on USDJPY
August 25, 2023
Weekly Technical Analysis Report 25 Aug – Bullish outlook on USDJPY
1. This week’s outlook on USDJPY: Bullish outlook seen
On the H4 timeframe, the pair broke above the upper level of a descending channel, and is encroaching towards the previous high at 146.500. With this break to the upside, price elevation beyond this level would be our upside confirmation to the next high at 148.800. This also coincides with our 27.2% fibonnaci retracement levels. The pair is also above the ichimoku cloud, supporting our bullish bias.
Bullish Outlook on USDJPY – 25 August by Salzworth on TradingView.com
