#USDJPY Weekly Forecast What to Expect for the Week of June 16

With the Advanced Pro Charts, traders are equipped with sophisticated tools that enable them to detect very high probability trading setups. These Advanced Pro tools facilitate the identification and confirmation of robust selling and buying areas within the charts, all while taking into account critical factors such as high liquidity and high trading volume. High liquidity is essential as it ensures that trades can be executed swiftly without significant price changes, while high volume indicates strong market interest and participation, further validating the identified trading zones.

In the context of our current #USDJPY ANALYSIS, the data indicates a strong likelihood that the price will initially rally towards the significant level of 146.00. This level is noteworthy as it represents a strong resistance zone, highlighted in yellow on our charts. Additionally, this area has been identified as a powerful sell zone with a strength indicator reading of +71. To put this into perspective, any reading above 60 is considered a very strong signal, suggesting that market participants may be inclined to sell at this price point, reinforcing the potential for a price reversal.

If the price indeed encounters rejection upon reaching this critical area, we can anticipate a subsequent decline towards our target of 142.30. This target represents a strategic point where traders may look to capitalize on the anticipated downward movement. The analysis of price action around these key levels not only helps in setting realistic targets but also assists traders in managing risk effectively. By employing the Advanced Pro tools to monitor market behaviour closely, traders can make informed decisions that align with the prevailing market dynamics.

Chris

Head Coach

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