USDJPY Weekly Hammer Reclaims Key 115 Level

The USDJPY is edging up going into today’s European morning after yesterday’s strong bounce. Significantly, with the USDJPY back above the psychologically key 115 whole figure level, and the current weekly Hammer showing an unwillingness for the USDJPY to test wedge support, odds are high for the ascending wedge (on the weekly chart) to extend above the 2022 high in the next week or so…

USDJPY Nearing Highest Level Since 2018

The USDJPY is in the advanced stages of a 2 week plus Bull Flag consolidation (on the daily and weekly chart), firming just below the 2021 high formed in mid October. Significantly, the USDJPY is bumping into the highest levels since 2018, with the widely anticipated US Non-Farm Payrolls (NFP) on Friday potentially being a catalyst for a Bull Flag extension towards the 2017 high…