Chapter 32 Has USDJPY finished the pullback?
07/05/2023
Summary
United States' significant events led the market
Fundamental analysis
Fundamentally on this pair of USDJPY, On Friday in the USA The non-farm payroll and the unemployment rates result were launched with Unexpectedwhat result it was very positive outcomes for the US economy and the US dollar as well
U.S. Non-Farm Payrolls
Prev: 165K
Act: 253K
U.S. Unemployment Rate
Prev: 3.5%
Act: 3.4%
Technical analysis
In this 1-hour diagram chart, the market price now is 134.814, we expect the market to push the price up to the previous supply zone at 136.600 During that push we will witness a false breakout and pull back at Friday's higher price at 135.000 And we expect the market to keep pushing up to the supply zone mentioned above with the 20-moving average point up.
Trading Recommendation
Trading Direction: Long
Entry Price: 135.221
Target Price: 136.526
Stop Loss: 134.563
