USDJPY profit target reached nicely, prepare to buy
Buy above 1113.16. Stop loss at 112.28. Take profit at 114.50.
Reason for the trading strategy (technically):
Price has dropped nicely and has reached our profit target from yesterday. We still see further bullish potential from here. Our goal is to remain bullish above 113.16 support (Fibonacci retracement, horizontal overlap support, ascending support) for a push up to at least 114.50 resistance (Major swing high resistance).
Stochastic (21,3,1) is seeing support above the 1 to 9% area.
Reason for the trading strategy (technically):
Price has dropped nicely and has reached our profit target from yesterday. We still see further bullish potential from here. Our goal is to remain bullish above 113.16 support (Fibonacci retracement, horizontal overlap support, ascending support) for a push up to at least 114.50 resistance (Major swing high resistance).
Stochastic (21,3,1) is seeing support above the 1 to 9% area.
Comment:
whoo! come on USDJPY let's bounce higher!