On the USD/JPY daily chart, “bulls” managed to test the resistance line located at 111.35 and pushed the quotes towards 61.8% Fibonacci retracement level formed from the last downward wave.
The prices continue to rise towards the target 161.8% (119) in “Crab” inverted pattern. You may continue to buy on the pullbacks or on the breakout of the previously formed high.
On the USD/JPY hourly chart, there is an acceleration of the uptrend. The next support levels are located near the 112.55 and 110.9 levels. If there are not tested, it will be a signal for the opening of the long positions.
Recommendations: BUY 112,55 SL 112 TP1 114,25 TP2 116,8 TP3 119 BUY 110,9 TP1 114,25 TP2 116,8.
Origin: FX BAZOOKA
