Too_Ray1

USDJPY LONG to 104.500

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken resistance at 103.655. I will create a buy limit order on market open to go long with targets at major resistance 104.500.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.