USD/JPY - Possible bullish short term break out
It looks as if the bulls are trying to wrestle through the 104-level with a tight corrective structure just underneath it and hinting a pre-breakout formation. Far from a perfect setup, but a setup nonetheless.
If they manage to break through I'd say the area around 104.100-104.150 should be an area of interest where we might see the sellers take over for a day or two.
If they manage to break through I'd say the area around 104.100-104.150 should be an area of interest where we might see the sellers take over for a day or two.
Trade closed: stop reached:
Breakout never manifested itself and price broke down instead.