FX:USDJPY   U.S. Dollar / Japanese Yen
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2
35 1
1 % risk for a 1.5rr

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Nice idea on USDJPY and there may be bullish potential as you have identified. The 1st support that we have identified is at 112.1910, which lies just above your entry level. It is a horizontal overlap support, with a 23.6% & 38.2% Fibonacci retracement. Stochastic is approaching its support at 2.32% where a corresponding bounce could occur. If a potential bounce does occur, we may want to look at 113.494, which lies near a 61.8% Fibonacci retracement. Looking forward to see how things develop.

Please have a look at our idea and we would like to hear your thoughts.

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