USD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 115.373, 115.680, 116.165.
Key Support Levels: 114.746, 114.335, 114.160.
Daily Time Frame:
The price on the higher time frame was in an upward movement where it posted a correction to the 114.650 JPY mark. The market left an engulfing bullish candlestick around this level showing that he buyers are in control of the market.
USD/JPY Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trendline to the upside. In addition, we have a breakout of the bespoke resistance level around the 115.08 JPY mark. The market is expected to move upward in the same direction of the main trend.
Buy Market Order @ 115.081
TP 1 @ 115.630
TP 2 @ 116.165
Stop Loss @ 114.810
Trade Safely 🙂