USD/JPY BUY - 20/10/2017

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen

The price showed a significant growth during the Asian session and now is testing the upper limit of the consolidation/level of resistance 113.20 - 113.42. Given such a strong bullish impulse, it is necessary to point out the scenario of the breakout of this level. If the price breaks the resistance out sharply and on large volume , it will be a great bullish signal, so we will be able to open long positions. A stop loss should be placed below the breakout volume bar. A potential of the deal is 110+pips.

The bottom line: long positions after the breakout of the resistance.


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