USDJPY: Update and Bullish Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen

good morning, traders!

checking daily timeframe on USDJPY this morning
I believe that the pair has the potential to proceed higher.
In my view, bullish tendency will remain at least until 110.0 level - next level of resistance.

Follow the market within the rising wedge pattern and wait for a breakout,
it will help to identify an early shift in the sentiment of the market participants.
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Don't u think it is a fake breakout of the 109.32 and it will soon break the triangle to the downside?
VasilyPonomarev AhmedOsama2020
@AhmedOsama2020, hey Amed, I believe that before a bearish impulse we gonna see a "W" formation on 1h + divergence!
but all in all, chances are high that we will see a bearish movement from current levels!
Spot on with what I have brother. Also, there is a long term down trendline on the daily I'm watching, but does come in roughly to your target. I'd share a chart, but have it on another platform atm. Solid bearish divergence as well. It struggled a bit to close above the 109.3 resistance which was a triple top coming into today. Hit 109.48 which literally kissed the top of the upper trendline of the wedge and I missed making a play off that today. All in all a great opportunity trade here. Cheers man
@Dchuel, hey
I think you are talking about this

thank you for your thoughts!
Dchuel VasilyPonomarev
@VasilyPonomarev, I actually drew it starting from the 10/5/18 candle on down, captures every reaction since then. Not dismissing what you shared though as it does go back further. This just seems to capture the most recent reaction points from 10/18 imo. Thanks man
Dchuel Dchuel
Changes the slope a bit
@Dchuel, oh yes, I got what you are talking about! yes yes!
good eye my friend!
Share your ideas on USDJPY here!
harry3033 VasilyPonomarev

I'm I too late to take this? Where would you put the SL please
@harry3033, hey, Harry! For now, I don't have any active trade on this pair.
It is just a technical analysis of a daily chart with a potential scenario.
it just helps in future trade executions on this pair :)
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