USD/JPY: REVERSAL OF TREND UNDER CONDITIONS
LONG TERM: The pair has for the last 5 years stayed in a bear trend,approaching long term support levels.As soon as it stays above the 101.00 level we are assuming the beginning of the creation of a reversed head and soulders formation,something that will be proved after the approach and the upwards break of the 125.00 area.Our point proved correct,the 125.00 level was upwards broken.As soon as the pair stays above this level,we can see even the 175.00 area…
SHORT TERM: We stay on our point as described in last analysis:”We can now (139.50) go long aiming 144.00.Stop loss at 135.50″.
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