USD/JPY Ranging Between Two Camarilla Pivots

Dear Traders,

The USD/JPY is ranging. We will see the range until it is broken. At this point volatility in the pair significantly dropped so we can see only the breakout levels.

107.85 is the breakout point to the upside. A close above will give the price a bullish momentum so, 107.90 is next will 108.36 as the final target. A close below 107.30 and the price is going to retest 107.00 and 106.85, where we might expect another bounce. Until the breakout of the running triangle happen, the pair will be stuck in range between red lines.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.