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USDJPY Technical Overview: Bullish Flag Formation

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Technical Overview: Bullish Flag Formation and Long Opportunity

We have publsihed a trade setup for the members based on wedge breakout. Trade reached the first target and Anka pulled back to 111.000 – EMA 50 Support of the H4 Chart-

USDJPY is trading at 111.200 as of writing.As seen on the hourly chart we see a bullish flag formation on the H1 Chart timeframe.

An upsie break of the flag would carry the price 112.000 psychological level.

On the other side,the pair could ease further in the case US Treasury yields retreat, with a break below 110.90 required to confirm additional declines.

Key Levels:

Upside: 111.520 111.710 111.900

Downside: 1110.900 110.700 110.500

We will focus on the flag breakout and will publish the trade idea for the members.
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