MartinScull

USD/JPY daily support base

Long
OANDA:USDJPY   U.S. Dollar / Japanese Yen
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Hi Traders,

As we can see here on the daily chart a fairly strong support base is forming from previous resistance. Price is hugging the lower side of the cloud after breaking above the Kijun base line and now has the next level of resistance at around 108.550 potentially in its sights.

Entries should be made on lower timeframes to maximise profit potential. Bear in mind risk events over the next few days.. tommorow @ 15:00 BST USD U. Of Michigan Consumer Sentiment Index among other USD medium level data releases could affect direction.

Happy trading!

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