USD/JPY looking for buying opportunities
Looking on the weekly timeframe, we are in a downward trending channel
It bounced of the top resistance trend line and had 5 consecutive bullish candles. On the daily we see that there is a major resistance zone around 104.400 and whenever price reached that support level It came straight up.
Im anticipating a breakout above the downward channel on the 1hr and have a temporary buy cause on the weekly it's a sell. I will take profit around 105.260.
It bounced of the top resistance trend line and had 5 consecutive bullish candles. On the daily we see that there is a major resistance zone around 104.400 and whenever price reached that support level It came straight up.
Im anticipating a breakout above the downward channel on the 1hr and have a temporary buy cause on the weekly it's a sell. I will take profit around 105.260.
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