USDJPY is preparing to break out of a recently formed ascending triangle. The US dollar has shown strength and there is a solid support zone formed around 149.687. This indicates that the breakout will likely be bullish.
Further rise in the price could finish just above the high of the current trend at 151.100, which is our target.
For risk management a stop loss should be set below the support at 149.400.
Further rise in the price could finish just above the high of the current trend at 151.100, which is our target.
For risk management a stop loss should be set below the support at 149.400.