USDJPY: Bullish XYAB Pattern and Bullish Cypher Pattern
The market broke out the downward trendline and pulled it back, bullish XYAY pattern formed in general.
Meanwhile the bullish Cypher pattern completed at 110.6 level.
Additionally,the Demand Zone also works at 110.5-110.6 levels.
So it is good to buy at 110.5-110.7 levels when the price pulls back.
SL: below 110.2
TP1: 111.6
TP2: 112.6
TP3: 113.3 and further more
Meanwhile the bullish Cypher pattern completed at 110.6 level.
Additionally,the Demand Zone also works at 110.5-110.6 levels.
So it is good to buy at 110.5-110.7 levels when the price pulls back.
SL: below 110.2
TP1: 111.6
TP2: 112.6
TP3: 113.3 and further more
Trade active:
Very nice, the price reversed in the PRZ.
Comment:
100 pips were taken before the NFP and another chance is given to buy again.