USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 113.570, 113.839, 114.104.

Key Support Levels: 113.238, 112.990, 112.751.

1-Hr Time Frame:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted. We can notice that the trend left the first leg up and now we are at the end of the 2^nd correction.

USD/JPY Medium-Term Trend: Bullish

15-Mins Time Frame:

On the lower time frame, the market succeeded to break the bullish flag to the upside after the price found buyers around the 61.80% Fibonacci retracement level. A lower correction could be seen before a new impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 113.225

TP 1 @ 113.547

TP 2 @ 113.839

Stop Loss @ 113.065

Trade Safely 🙂