MEX_Exchange
Long

USDJPY has made a strong bullish exit, upcoming rally

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY             has shifted momentum strongly towards being bullish and we’re at a good level to enter a long trade.

Buy above 106.35. Stop loss at 105.40. Take profit at 108.45.
Reason for the trading strategy (technically):
Price has made a bullish exit of our long term descending resistance-turned-support line meaning our momentum is shifting from bearish to bullish . We look to buy above major support at 106.35 ( Fibonacci retracement , horizontal overlap support) for a strong push up to 108.45 resistance ( Fibonacci retracement , horizontal pullback resistance). We do have to be cautious of intermediate resistance at 107.82 ( Fibonacci retracement , horizontal swing high resistance).
RSI (89) sees a bullish exit on RSI signalling a shift in momentum from bearish to bullish too.
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