Breaking News

USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 110.114, 110.425, 110.697.

Key Support Levels: 109.681, 109.117, 109.000.

Daily Chart:

The price on the higher time frame the price is bouncing between two key levels which are the support and the resistance with the respective values, 109.681 & 110.114 JPY. The support looks difficult to break down which led to a reversal and a move higher.

USD/JPY Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside after finding buyers around the 61.80 % Fibonacci retracement. We expect a lower correction to the highlighted zone before a new bullish impulsive wave to the target profit.

Signal Idea:

Buy Limit Order @ 109.938

TP 1 @ 110.111

TP 2 @ 110.425

Stop Loss @ 109.856

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!