USDJPY is trading in a strong .
After the price reached 111.0 level, we see a retracement leg.
Currently, the price is retesting strong daily support (previous structure high).
To catch a trend following move, wait for a breakout of a resistance line of a pattern on 4H.
It will be a perfect confirmation.
First goal will be 110.4
In case of a new lower low formation on 4H, the setup will be invalid.
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the importance of the key level you mentioned can also be seen in Daily and Weekly as well