USD/JPY BUY - 06/11/2017
We should point out two new volume levels for the Yen: the support 113.62 - 113.76 and the resistance/local maximum 114.37. The price is located in the middle between these two levels, but given that the growth of the price was sharp and on large volume while the downward correction was smooth and on small volume, we should give advantage to long positions. We can enter the market after a breakout of the resistance. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 110 points.
The bottom line: long positions after a breakout of the resistance.
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