USDJPY Breaks 109.30, Targets 112.00

by Justin Bennett  · 

March 29, 2021

by Justin Bennett  · 

March 29, 2021

by Justin Bennett  · 

March 29, 2021

Last week I discussed a potential USDJPY long opportunity.

The pair was testing the 2015 trend line near 109.30, and given the bullish momentum, the market looked ready to break higher.

Last week’s 109.68 close appears to have done just that.

USDJPY weekly time frame

Today’s session tested the 109.30 area as support and is holding above that area for now.

I have to favor additional upside for the USJPY as long as it stays above that 109.30 area on a daily closing basis.

As I mentioned last week, the next key resistance area is 112.00.

That’s also the 2020 high, so I do expect sellers to defend 112.00 if tested.

Alternatively, a daily close below 109.20 or so would negate the bullish outlook.

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USDJPY daily time frame

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  1. Thank you Justin!
    My name is Mark, and I’m from Vietnam.
    Can I buy a $ 297 course and get all benefits including daily signals via mail?
    What steps do I need to complete to get all the benefits like advertising on your website?

  2. On a break out trade like this one, is it best to wait for a retest of the broken trend line or at least some kind of a pullback to make an entry? Or it is best to join the breakout since Yen pairs tend to move fast?

  3. I am a forex trader currently I am not as fast as I have anticipated, I have manage to make $100 dollars US with pepperstone platform as a retail trader and the laws are now tough as we are required to be on the next level of trading and means one need to beef up his or her account to benefit some bonuses

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