USD/JPY: bulls want revenge

USD/JPY: bulls want revenge


BUY 112.10

SL 111.55

TP 113.00 TP2 114.30 TP3 115.00

On the daily chart, USD/JPY bulls managed to fight back bears and return the pair inside the previous downtrend channel. This increases buyers’ chances for revenge. To begin with, they need to take an important resistance of 111.65.


On H1, USD/JPY can for the Dragon’s head in line with the “Dragon” pattern in the 111.70-112.05 range. Only a confident break of the previous consolidation will allow bulls continue the rally.




Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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