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R.Linda Trading - forecast

USDJPY - Strong Resistance Test. What's next?

2023-03-31 07:21 FOREX forecast

The USDJPY is exiting the upward price channel . The price is heading towards a strong resistance zone . What's next?

Price is heading towards the resistance zone (tandem between the 200 hour moving average and the liquidity zone).
There is a good chance that price will bounce from the strong resistance zone .
There was no confirmation of the trend change, there is a chance that price could easily fall to 132.000 131.00

I expect the resistance area to be tested as a false-break or a touch. It is worth waiting for consolidation under the resistance level to form an entry point. The short-term target is the support at 131.00, the medium-term target is the support area at 130.00

R. Linda

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