USD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 127.15, 128.49, 129.77
Key Support Levels: 124.82, 123.46, 122.30
The price on the higher time frame has been showing a bullish momentum for a few months. We see that the price made a pullback to the 121.21 level after a good run and then bounced back from there. We expect further trend continuation.
USD/JPY Medium-Term Trend: Bullish
On the lower time frame, the price is moving in the major trend direction. The pair was in a small consolidation period and attempted to break to the downside but faced rejection. The price has now broken the upper range with good momentum.
Buy Limit Order @ 125.90
TP 1 @ 126.74
TP 2 @ 127.58
Stop Loss @ 125.06
Trade Safely 🙂