USD / JPY: Our expectations - Medium-term downward trend, breakthrough and test of horizontal and diagonal resistance. Opportunity for long position with stop 111.05.
Alternative Scenario: If the price drops below the set of supports, after adjustment will give us grounds for a short position around 111.00.
Comment: Price made a breakthrough and a test of multiple diagonals and a horizontal line, as well as a fake break of 38.2 Fibo. Test 200 EMA, currently price breakthrough 50 EMA.
On H1, a breakthrough of the diagonal resistance of the downward movement, a test that coincided with 50 EMA - a Long signal.
Bank of Japan left interest rates unchanged at -0.1% and continued with its loose monetary policy - a possible fall in JPY.
50/200 EMA - Bull Formation - Positive Signal.
CCI (50) - above 0
CCI (14) - breakthrough level -100 from bottom to top - both indicators give an input signal.
Jr Trader Alexander Kumanov
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