USDJPY is currently flirting with support, I anticipate once its broken its gonna fall quickly to the bottom again..
We can see in this chart price has broken and been rejected at this level several times but it will very soon break it and hit the floor
May be a while before it reaches its highs again
The low of 03/01/2019 started the Up-trend with a completed 3 Structural failures to the upside on 24/04/2019 making a higher high of 112.390.
What we have observed is price discounting itself. An opportunity to buy at a cheaper price level.
So, we have see a completed H&S inverted last week friday and we are looking for buyers to step into the usdjpy from...
STOP LOSS - 108.333
TAKE PROFIT - 108.864
Risk on the trade - 1%
We have seen some bullish momentum on this trade where price had a brief pause and consolidated sideways creating a continuation pattern. Price has broken above and we may see price move to our take profit.