MEX_Exchange
Long

USDJPY has reached our profit target perfectly,further rise!

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has made another bullish exit with great upside potential.

Buy above 106.48. Stop loss at 105.81. Take profit at 108.51.
Reason for the trading strategy (technically):
Price has rose perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 ( Fibonacci retracement , horizontal overlap support, breakout level) for a push up to 108.51 ( Fibonacci retracement , horizontal pullback resistance). We do have to be cautious about 107.78 resistance as price might react off that level.
RSI (89) has made a similar bullish exit signalling a change in momentum from bearish to bullish .

nice chart. From a TA stand point, do you see any benefits of being long usdjpy if the us stock market corrects this week or in the next 2 weeks
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nice strategy boss
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