US Fed dovish statement out over night did weaken the US dollar . But the dollar has make a fight back  since touching 118.409 the buck has rallied to a high of 118.80. which happen to be a strong resistance zone, where i would expect bears to be waiting in good numbers so we could have fight on our hands to see if the US dollar  continue to push higher. Or will the bears take over pushing the Yen low ( Which would confirm the strength in the Yen )

USDJPY Trade Plan 28th Jan

If the Bears win the fight then price would have make a low high this would signal  price will be heading lower once again

Pick you bias and trade your plan

have great day trading

4 thoughts on “USD/JPY, Strong Resistance @ 118.852 Zone”

  1. Charles Bidner says:

    I have been watching this one, thanks for the heads up Paul. Have a great day.

  2. LEONIDAS says:

    We have the same view at this pair !

    Thanks Paul …

  3. Ryan Gandalf van Jaarsveld says:

    News out of BOJ will support technicals.

    Thanks for the signal Paul!

  4. Timmi "Timmbits" Simmi says:

    I guess you don’t pay attention to calendar events.
    On the verge of an interest rate decision… which you make no mention of… and you focus on this?
    There was a 300pip move, which, I guess, you missed out on.

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