USDJPY: BULLISH OVERALL , BUT I AM NEUTRAL UNTIL ZONE.
CONFLUENCE:
1. Price is above monthly support 110.680
2. I observed weekly higher low formed above daily support113.050
3. Price Is still bearish but approaching green trendline very bullishly
4. We could see a break above as resistance is very weak now.
OR we could see a double top formation, retest of resistance then a fall in price.
5. We shall wait for a break and retest of 114.240
OR test and rejection based on price action.
1. Price is above monthly support 110.680
2. I observed weekly higher low formed above daily support113.050
3. Price Is still bearish but approaching green trendline very bullishly
4. We could see a break above as resistance is very weak now.
OR we could see a double top formation, retest of resistance then a fall in price.
5. We shall wait for a break and retest of 114.240
OR test and rejection based on price action.