USD/JPY: bulls don’t want to lose their control over the pair

USD/JPY: bulls don’t want to lose their control over the pair

2019-11-11 • Updated

Recommendations: BUY 113,95 SL 113,4 TP1 115,5 TP2 116,4 TP3 117,55.

On the USD/JPY daily chart, Bulls managed to return the quotes to the important level of 113.3 (50% from the near-term downward wave). If buyers manage to push the quotes higher, there will be a restoration of the uptrend and realization of the Butterfly pattern.

JPY1.png

On the USD/JPY hourly chart, Bulls managed to keep the quotes at 112.9 and now they are trying to restore the uptrend. To do this, they need to test the resistance at 113.95 and activate AB=CD pattern. Its target 161.8% is located near 115.5.

JPY2.png

 

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