USD/JPY: 'Three White Soldiers' pattern

USD/JPY: 'Three White Soldiers' pattern

1107usdjpyH4.png

We've got a bullish 'Engulfing', which has been confirmed enough. Also, there's a 'Three White Soldiers', so the pair is likely going to reach the next resistance at 111.46. This level could be a departure point for a decline towards the closest support at 110.77.

1107usdjpyH1.png

There's a 'Three Methods', so the price is rising. At the same time, we should keep monitoring the nearest support at 111.07 as a target for a possible bearish correction. If a pullback from this level happens next, there'll be a green light for another bullish rally.

jpy

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