USD/JPY - Possible BULLISH Pennant formation breakout for 111
Updated
USD bulls are preparing to break out of 110 by forming a bullish pennant.
Waiting for price action to break out of the pennant and bounce off resistances as shown on the chart.
Target is near R5 and around 110.9.
If this chart helped at all, leave a like or follow.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
Waiting for price action to break out of the pennant and bounce off resistances as shown on the chart.
Target is near R5 and around 110.9.
If this chart helped at all, leave a like or follow.
I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA.
DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA.
Good luck to everyone!
Note
Waiting for clear signs of breakout before taking a position.Trade active
Longed @ 110.136Note
Going up way earlier than I expected, might hit target early as well.Trade closed: target reached
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