Weekly Technical Analysis Report 5 June – Bullish outlook on USDJPY
June 5, 2023
Weekly Technical Analysis Report 5 June – Bullish outlook on USDJPY
1. This week’s outlook on USDJPY: Bullish outlook seen
Currently, there is bullish order flow, with higher lows and higher highs created. A break above upside confirmation at 140.80, followed by a throwback to support zone at 138.80, which nears the 78.6% Fibonacci retracement level, could provide bullish acceleration towards the resistance zone at 142.00, which coincides with the 100% Fibonacci extension level. Price is currently hovering above ichimoku cloud and 20 EMA, supporting our bullish bias.
Bullish Outlook on USDJPY- 5 Jun 2023 by Salzworth on TradingView.com
