USD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 110.20, 110.79, 111.00
Key Support Levels: 109.37, 109.00, 108.61
The price on the higher time frame is trending to the upside by posting higher highs and lows. the price recently managed to break the 109.37 USD resistance (now support). The market is in a middle of a correction above this level where we expect further movement to the upside in the coming hours.
USD/JPY Medium-Term Trend: Bullish
On the 1-hour time frame, the price succeeded to break the flag formation to the upside by posting a double bottom near the 50% Fibonacci retracement level. A lower correction might be seen toward the highlighted zone and then a move upward to the target profit.
Buy Limit Order @ 109.71
TP 1 @ 110.19
TP 2 @ 110.79
Stop Loss @ 109.47
Trade Safely 🙂