USD/JPY BUY - 02/11/2017
USD/JPY resumed its growth and tested the upper limit of the consolidation/resistance level 114.20 yesterday. The test of the level was on increased volume, however, the price did not rebound from it, but remained trading near this mark. This is a signal to a possible breakdown of this resistance, which will give an excellent opportunity to open long positions. The breakdown movement must be sharp and on large volume. The price should be fixed above the resistance level and after a continuation of the growth we can open purchases. A stop loss should be placed just below the volume breakdown bar or the beginning of the breakout movement. The potential of the deal is 110-120 points.
The bottom line: long positions after the breakout of the resistance.
The bottom line: long positions after the breakout of the resistance.
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