Hello all traders
I have a long term outlook on USD/JPY that I want to share with you

we had a channel down that has 3800 pip width
with Expansion of the Quantitative and Qualitative Monetary Easing that bank of Japan declare on October 31, 2014
this channel break completely and also break 50% Fibonacci Retracement that is 111.6
and on 2014.12.5 with release "Non-Farm Employment Change" data that is positive for USD
61.8% Fibonacci Retracement that is 120 break too
(Draw fibonacci retracement on monthly chart between
1998.07.30 23:00 147.66
2011.10.01 00:00 75.548
for this purpose)

I think that 120 act as a strong support and we have long on USD/JPY
at first 124 then 127 then 130 then 135 then 140 then 145 these numbers are based on
supporst and resistances on weekly and monthly chart and psychological numbers
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