USD/JPY: yen got lost

USD/JPY: yen got lost

Recommendations:

BUY 110.5 SL 109.95 TP1 111.5 TP2 112.5 TP3 114.5

SELL 109.4 SL 109.95 TP1 108.4 TP2 107.2 TP3 106.05

On the daily chart of USD/JPY, the inability of bears to pull the pair below the uptrend channel points at their weakness. If bulls manage to overcome resistance at 110.95, the odds of the pair going to 200% of the AB=CD will increase.

USDJPY1.png 

On H1 of USD/JPY, a break of resistance at 110.5 will trigger “Wolfe waves” pattern with targets above 111.5. To develop a correction, bears need to pull the pair below support at 109.4.

USDJPY2.png

 

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