Possible Dollar Yen weakness ahead of this week
On the monthly chart price recently Hit the support level of 106.200 which we expect that price will retest and break to retest dynamic resistance whilst completing a Bullish Pennant which is a good indication of a continuation in trend.
From the Daily chart price has created what seems to be a head and shoulder pattern at level which serves as both a psychological level of resistance and dynamic resistance with a fib retracement of 61.8 we expect a bearish that will reach the support level of 106.200
On the H1 chart price has broke dynamic support and is currently restesting it as dynamic resistance which will trigger the crossing of the EMA, Price has also created a roll reversal and is about to complete the C wave of the pullback of which will complete at the psychological resistance level of 109.600
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About The Forex Analyst
Two years experience in trading the foreign exchange market and a B.com economics Student