Idea for a long position on USDJPY
.Last night USDJPY
broke through a resistance zone
at 107.887 and proceeded to use the same zone as Support.It seems to have good momentum at the moment! It then pushed up to the next zone of interest at 109.505-109.869. I Believe it will keep good momentum and push through this zone as it did with the previous zone on the evening of the 18th. I will wait for it to push through this zone and then enter upon the retracement. As Shown by the 'long position Grid', Sl will be placed just below the current zone of interest and I will place my target up at 112.075- just below the next major resistance zone
. Hope some of u find this helpful or have a similar view.