USDJPY: Potential Key Level Trade

Apr 13, 2021

USDJPY is trading in a strong bullish trend.
After the price reached 111.0 level, we see a retracement leg.

Currently, the price is retesting strong daily support (previous structure high).

To catch a trend following move, wait for a breakout of a resistance line of a falling wedge pattern on 4H.
It will be a perfect confirmation.

First goal will be 110.4

In case of a new lower low formation on 4H, the setup will be invalid.

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Apr 14, 2021

Note

Watch my new video on USDCAD: