First 2022 trading day, triggered, yesterday a nice move; indeed, we say, on a daily basis, three important
1) breakout of the daily clouds resistance
2) Crossover of the Tenkan-Sen
3) Chikou-Span crossover of cluster
Still one resistance level to break which is the ongoing downtrend line resistance and the former highs, respectively @ 1.7050% and 1.7740%
In addition, on a weekly basis, the ongoing downtrend channel is still intact (next closing will, maybe, add more clues about further development).
Watch shorter time frames as on H4, a failure to hold above 1.56%-1.55% would be the first warning signal of a potential reversal !
Ironman8848 & Jean-Pierre Burki
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