. There is a possibility of temporary retracement to suggested support line (105.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDJPY is in a range bound and the beginning of uptrend is expected.
. While the downtrend #1 is not broken, wave in price would continue.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The is at 41.
TP1= @ 105.05
TP2= @ 106.90
TP3= @ 108.17
TP4= @ 109.73
TP5= @ 111.50
SL= Break below S2
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