Technician
Long

#USDJPY Could Bounce of Support #forex

FX:USDJPY   U.S. Dollar / Japanese Yen
1905 5 48
Hello Friends,

It looks like USDJPY             is heading for a short term bounce of the main support region highlighted on chart amon 118.50-118.30. The price was rejected today forming a long-legged doji candle at that support.
For the bullish scenario, i would book profits starting at 119.60, followed by 120.40 main next resistance.

If 118.30 breaks, I would anticipate more downside for 116.90.

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My Best Regards
Technician
Comment: First target reached. It is ideal to move stop loss to breakeven..
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Nice one
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and could bounce of the weekly trendline too :-)
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I was going to do a post with quite the same idea as yours. Talk about like minds. Haha.
+2 Reply
Technician amanpaulbhogal
:D
+1 Reply
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