It's a monthly chart, the ray has been placed on points 1 and 2 and see where it's happening the green line 1. fib retracement 2. touching the resistance could become support (at least previous months did it)
So be advised...
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nch
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I am drawing the trendlines on close price (switch to line graph).
I am bearish of the pair on the lower timeframes, though.
rauan
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Hi Nick, I connected consequent highs of USDJPY and jot projection above current price at 105.10.
There's historical support zone at 100.30/80 though.
I am bearish of the pair on the lower timeframes, though.