USD/JPY: bulls will fight till the end

USD/JPY: bulls will fight till the end

Recommendation:

BUY 114.30

SL 113.75

TP1 115.30 TP3 116.25

On the daily chart, after reaching 88.6% target of an inverted “Shark” pattern and a pullback USD/JPY resumed the short-term uptrend. A break of resistance at 114.35 will open the way to 113% target and 78.6% level of the descending long-term wave.

JPY1.png 

On H1, USD/JPY keeps forming a “Widening wedge”. A break of resistance at 114.30 will be a signal for buying. On the other hand, return of the pair to support at 113.30 will allow to think about selling.

JPY2.png

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