USD/JPY: medium-term short movement, short-term long movement
Long is in place, as the price keeps its upward price trend
Dynamic upward channel - 13 EMA
Moving averages in bullish formation
Possible breach of horizontal resistance at 106.813 and diagonal resistece
CCI (50) above 100- bullish territory
New test of the breached resistence will allow for a sweet spot for long positions to open
Fundamentals: The expectations for new stimulus from BoJ amounting not 10 but 20 trillion JPY, means strong devaluation of the yen
The policy of Japan remains to reduce the value of JPY
Stefan D. Angelov - Head of Stocks trading
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