TradingTechs
Long

Bullish USD/JPY PA

OANDA:USDJPY   USD/JPY
209 0 4
Major trendline broken and closed above on volume . Trump winning the election swing quickly recouped losses and a break above 107.39 could see further continuation as long as this level holds and we get a close above it. First minor resistance comes in around 108.45.22 and major resistance comes in from 111 (cluster of lows and highs) to 112 (50% Fib coming in at 111.37)
Comment: Very overbought coming into the 38.2 Fib. Could see a pullback before another leg higher
Trade closed: target reached: First minor resistance reached
Comment: Pullback as discussed. 107.40-50 key for another leg higher into 111
Trade active: Broke yesterdays high. Continuation of the move into 111. Clusters of minor levels above here so PA could slow down
Comment: Just entered a cluster of lows and highs. Should see some resistance here
Comment: Previous comment as price is around 109.10-20
Comment: Price Action slowing down as discussed. Very overbought coming into this area. We need to see some accumulation and position building for another push higher into the major 111-112 area.
Comment: Testing yesterdays highs after holding minor resistance as discussed above. Should see it hit major resistance (111-112) if we can get a close above yesterdays high
Comment: Closed above the high and opened and broke yesterday's high also. Very aggressive PA. Could see it hit resistance as early as today.
Trade closed: target reached: 7 pips from resistance. Should see it slow down up here
Comment: Sellers stepped in as USDJPY approached major resistance levels just before 111
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