USDJPY Bullish Divergence

FX:USDJPY   U.S. Dollar / Japanese Yen
The price diverges with MACD histogram. It gives us a trend reversal signal. RSI confirmed price reversal from 106.00 support level . MACD histogram supports the upward movement. ADX line falls and it allows us opening long trades. If the price breaks the downtrend line and 108.00 resistance level , it will be possible to buy. Stop orders must be placed below the local swing low at 105.50 level. Profit targets should be at 111.00 and 114.00 resistance levels.

Alternative variant: if the price bounces from the downtrend line, we'll see the market falling to 106.00 support level . This price movement will be used for making profit based on sell signals from lower time frames.
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DLavrov JayyaOnsomkrit
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