On the USD/JPY daily chart, after the target on the previously formed longs was fulfilled, quotes continued their rally towards 112.5. There is 161.8% target in the “Crab” inverted pattern.
At the present moment, “bulls” remain their control over the market. In such circumstances, it’s better to use the strategy of buying on the pullbacks.
On the USD/JPY hourly chart, the “bulls” accelerate their pace. A breakout of the lower boundary of the short-term rising channel can send quotes towards108.9. There is 88.6% target in the “Shark” pattern. If it is fulfilled, you can open long positions.
Recommendation: BUY 108,9 SL 108,35 TP 112,5.
Origin: FX BAZOOKA
