USD/JPY - Week 1 - Bull market expected

USD/JPY is the middle of the channel area. On the Daily Timeframe we are expecting an upside move, but for the moment nothing is clear. We can see the pair heading south in the short-term due to a new Covid-19 strain and with many worldwide lockdowns on the radar. We will wait for the price to break the upper trendline inside the channel in order to get a better understanding of the structure that is developing. Our advice is to focus on other currency pairs for now, as the price may slowly continue to go towards the 102 levels. We will patiently wait to get our ticket for the “bullish express”.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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Weekly target reached.