Baxia Markets
July 30, 2021

The upward trend starts on USDJPY

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The price line has been fluctuating for almost 28 days since Jul 2nd. During this fluctuation, we barely saw a trend; the price was hovering around 110.103. At the beginning of this year, the price had risen for months. The angle and movement were mild and stable. However, a turning took place at the beginning of July and suddenly stopped. Where will the price go next?



The price seems to struggle recently; try to find a breakout. However, the Bollinger Bands keep making an equal movement, nothing too strong and nothing too weak. Also, the standard deviation does not cause too many fluctuations. It looks like this is a peaceful time. But we have to see things deeper. 




The Ichimoku cloud is on a flat level, which means the price line could easily go upper or below the cloud. The MACD just made a bullish cross; it recovered from the bottom. And the Bulls power goes beyond the middle level, which means it goes positive.


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