USD/JPY: how to trade the pair?
Read the article on FBS website
Recommendation:
SELL 111.8
SL 112.35
TP1 110.8 TP2 110.3 TP3 107.85
On the daily chart of USD/JPY, bears have been testing the bottom line of the upward channel. If the pair breaks the support at 111.6, risks of the implementation of the “Shark” pattern with the 88.6% target will increase.
On H1, there is a correction of the “Head and shoulders” pattern. A break of the neckline will increase chances that the AB=CD pattern will be implemented and the pair will reach its 200% target at 110.3.
