Next idea for U/J

Like I said in this topic: tradingview.com/v/cO1dopGZ/

U/J reached 102 level.

Now , I have some Analyses for U/J.

Fundamental Analysis:

When I post this topic, Nikkei 225 continues higher, increases 1.42%.

If Nikkei225 keeps its dynamic, U/J will be higher and higher.

Technical Anaysis:

I show on the chart the oil resistance level: 102.65.

I think U/J will try to test this level again.

In the long term, U/J might reaches the 1.618 Fib extension level I show on the chart.

So now, 100% Fib Extension level is support level , It is also the upper line of long term bullish channel.

Two lines become the support zone and U/J is very difficult to break this level unless martket provides important data which can cause U/J be lower.

In short, the target is : 102.65

Stop loss: 101.70

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