USDJPY Bottom of Bullish Megaphone. Long-term buy.

Long

U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)

FX_IDC:USDJPY U.S. Dollar / Japanese Yen

trendanalysis chartpattern indicator usdjpy forex usd jpy usdollar japaneseyen

USDJPY is on the MA200 (1d) on top of the Rising Support Zone.
That is the bottom layer of the long term Bullish Megaphone pattern, a very strong rebound range.

Trading Plan:
1. Buy on the current market price and as long as the price stays on the Support Zone.

Targets:
1. 151.980 (Resistance 1, the previous High).

Tips:
1. The RSI (1d) has formed a Double Bottom exactly on the oversold 30.00 level. An additional strong buy signal.

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Notes:
Past trading plan:

USDJPY is extending the long term rally.

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