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U.S. Dollar / Japanese Yen
Long

USDJPY STUCK IN CONSOLIDATION

By VasilyTrader
snapshot

USDJPY is weak from the 14th of April.

the price is stuck between 107.0 major support and 108.0 minor resistance.

the best strategy to follow is to let the market break the structure and then act in the direction of the breakout.

with bullish breakout profit potential will be quite limited due to 109.2 next resistance.

with bearish breakout, the first goal will be 106.6 with a potential continuation to 105.0

be patient and don't rush!
Chart PatternsForexfxjapaneseyenTechnical AnalysistraderTrend AnalysisDJ FXCM IndexWave Analysis
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