USDJPY bullish continuation probable above 106.00
Updated
This pair has been trending up since early January and we may have an upcoming chance to ride a leg or 2 if we see a break above 106.
Looking for daily close confirmation and a bullish price action upon re-test of the level.
See below a view of the weekly chart and also why I'm bullish biased. We saw a breakout from a long term descending channel after which, it traded approx. 145 pips higher. Right now it's trading against 106.00 and a breakout looks imminent.
If a setup materializes, first target would be that 107 handle. DISCLAIMER: This is a personal view and not trading advice.
Looking for daily close confirmation and a bullish price action upon re-test of the level.
See below a view of the weekly chart and also why I'm bullish biased. We saw a breakout from a long term descending channel after which, it traded approx. 145 pips higher. Right now it's trading against 106.00 and a breakout looks imminent.
If a setup materializes, first target would be that 107 handle. DISCLAIMER: This is a personal view and not trading advice.
Trade active
This one's breaking out atm.Note
Almost got stopped out but survived. Targeting 107.00 now I think.Note
Crappy follow through. Not keen on leaving this trade open through the weekend so I'm likely to close this early, especially if I keep seeing this market hesitation. Prefer to keep my gains intact for the month.Note
Good bounce. Holding.Note
First TP 107 hit.Trade closed: target reached
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