USDJPY: 112.000 Might be the real "OMICRON BUY THE DIP"

Currently USDJPY is on a BUY, with the short uptrend expected to meet key monthly resistance at 115.000. After that we might probably see the YEN appreciate VS the Greenback. USDJPY is being supported beneath by a rising key strong trendline, which would likely be tested if the rejection occurs at 115.000 again.

There is no doubt that this pair is expected to grow in a long run. Major financial banks are expecting USDJPY to HIT 118.000 area by next year. however looking at the current scenario a short move to 115.000 might likely take place followed by a DIP towards 112.000 region. From here we can expect the BUYERS to strongly come in and take this pair slowly to 118.000 region

My analysis is not meant to be a trading signal nor financial advice! Its highly advisable to perform your own analysis and trade markets at your own risk. Please LIKE & FOLLOW if you found this analysis helpful in assisting with your own personal analysis. Cheers