Jai30

USDJPY Bullish Possibility

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is looking Bullish . Awaiting the break in the bullish symmetrical triangle for an entry signal. The pair has a support level within the symmetrical triangle of 110.580 where the price seems to have found support before closing for the weekend. The pair may break the symmetrical triangle bearishly by testing 110.500 level before turning bullish .

I am anticipating the price to break past 111.000 and continue to 111.500 or 112.000. Depending on price action around 111.500, will determine if the trade is worth holding onto towards 112.000. As always, be aware of psychological levels as well as other support and resistance levels. Compare my analysis to your own analysis to form a better opinion. Again, this analysis was formed from a top down point of view.