Keeping a bullish bias open for this currency pair. After a strong week last week for the US Dollar we are hoping for continued strength against the Yen this week. Structure has been forming nicely since this uptrend began in mid - September, the daily support level of 111.705 could be once again retested before we see a push upwards towards our overall target of 114.0-114.500.
Comment:
Currently around 160 pips up on this trade. Our prediction worked out perfectly with USDJPY moving down into the Daily Support level of 111.705 before moving bullish towards the supply zone of 114-114.500, :)