On the USD/JPY daily chart, a breakout of the resistance at 112.5 and exit of quotes beyond the upward trading channel allowed to implement targets on the previously opened longs.
The nearest support level is located near the 114.03 level.
On theUSD/JPY hourly chart, the target in the “Crab” inverted pattern has been fulfilled. As a result, the yen developed a consolidation in the range of 114.15-114.5 levels. A rebound from the lower boundary of the upward trading channel and breakout of the resistance will allow us to open long positions.
Recommendation: BUY 113,9 SL 113,35 TP 115,35, BUY 114,5 SL 113,95 TP1 115,35 TP2 118.
Origin: FX BAZOOKA
