USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 110.156, 110.570, 111.000.

Key Support Levels: 109.695, 109.358, 109.000.

Daily Chart:

The price on the higher time frame failed to break the strong daily support around the 109.358 JPY mark where the coin moved below it and then moved higher. A reversal occurred after the market posted a engulfing bullish pattern and further movement is expected in the coming hours.

USD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is posting higher highs and lows which shows that we are in a clear upward movement. A lower correction could be seen to the previous high and then a new bullish impulsive in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 109.914

TP 1 @ 110.148

TP 2 @ 110.570

Stop Loss @ 109.798

Trade Safely 🙂