USDJPY – Breaks Major Resistance + Yearly Highs (4hr chart)
Also being a one-way beneficiary of the BOJ, the USDJPY rocketed 3 handles from the news, taking out the major resistance at 110 and the yearly highs in the process. As I’ve been writing about for a long time, I’m suspecting a big bull run in the USDJPY, and this break of the key level helps add fuel the the fire.
For now, pullbacks into 110.30 should be considered a buying opportunity. More aggressive levels to get long would be 111.87 and 111. Only a daily close below 110 would stunt this bullish momentum.
Upside targets are 115, 119 and 121, with the potential over the next several months/year for …... Keep reading