Jonathon_b

Jonathon_b

Last week we reacted nicely off a daily support level at 1.00034 Giving this pair the strength to create nice higher lows and it now looks like were about to make a nice higher high. We have an ascending trend line off the higher lows which could give us an extra confirmation if we react off a higher time frame support @1.00276 with it.

Jonathon_b

USDJPY has been showing strong bullish strength for the past few days creating higher highs and lows. Price has broken a descending trend line on the hourly chart and is now reacting off support @111.981. I will be looking to take profit around a major resistance level 112.240. Once price does react off that major 112.240 resistance level the USDJPY could see...