USDJPY – Down
USD/JPY is on an upward trend, price retraced at a support line 109.05 recently then went up before retracing to it again. Currently price is pulling back to the same support and I expect a rejection of it from the line for possible bullish movement of price towards the resistance line 111.29.If price breaks above 111.29,I will continue long with USD/JPY after a correction to it with my ideal target at 114.34.Right now wait for the correction to 109.05 to buy USD/JPY with your take profit at 111.29 and stop loss around 108.31.On the daily chart above only long positions look ideal and can be recommended towards 111.29.
Wait for a correction to 109.05 to buy USD/JPY.
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