Nice idea on USDJPY and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 112.66 (61.8% Fibonacci extension , 78.6% Fibonacci retracement , horizontal swing low support). Stochastic is approaching its support at 5.9% where a corresponding bounce could occur. If a bounce does occur, we may look at 113.19 resistance level (50% Fibonacci retracement , horizontal overlap resistance). Please have a look at our idea and share with us what you think.

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