USD/JPY About to Break the $112 Resistance Level

Long

U.S. Dollar / Japanese Yen (OANDA:USDJPY)

Updated

OANDA:USDJPY U.S. Dollar / Japanese Yen

EMA indicators both sets 50/100 EMA and 10/21 EMA are in a bullish divergence structure. Price action is making higher highs and higher lows. Price is also tightening indicating a breakout or breakdown is imminent. I believe this setup favors a break of resistance at $112 and eventually moves higher before retracing.

Comment:

Played out nicely

Comment:

UJ not done, expect at least a breach of 113 then retrace

Comment:

Well.. I nailed this

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