Stoic-Trader

USDJPY Trying to break to the upside

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Price action for USDJPY has been behaving nicely, and the first yellow area marked in my previous post acted as solid support.

We have the conditions to consider a running flat was finished and price will continue rising.

Nevertheless, note that we have also formed a triangle (green lines) and the upside is capped by the top of the triangle and a very strong resistance at 155.50 (Orange Circle).

My primary scenario is bullish, and a break above 115.50 is my entry point.

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