Yen Breakout ! can not ignore the buying pressure …
Market has penetrated the resistance level of 121.50 and the consolidation pattern as well , and succeeded to confirm breaching the previously recorded top, which opens the way towards the continuation of the main bullish trend , now the buying pressure still exist and accumulated which mean the way is open for the market to reach the levels of 125/126 ; however , by the recent development we do expect the market to enter a range phase between the levels of 123/126. But if the price keep trading below 123.20 level, which puts the price under more bearish correctional pressure, to extend the negative targets towards 122.40 then 121.5.
On the longer -term : still the bull wave in effect as long as market is trading higher than 115 levels , targeting 125/128 levels – buying in dip would be the most strategy used by the markets on that pairs on the long targeted investment choice.
The chart analysis provided for mid-term view
Daily Trend: Up
Weekly Trend: Up