the5erstrading

Will USDJPY Continue The Bullish Momentum

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Usually, when the price is in bullish momentum, the only thing that can stop this momentum is a strong supply level with a massive amount of unfilled orders, on a daily chart on USDJPY, we can see that the next fresh supply is only at 113.00 zones, therefore, I believe that in the long terms the price tends to reach there and for that reason I’ll look for a Continuation level to join this momentum, the demand below seems like a great demand for buy position as a continuation trade, it is also 0.382 Fibonacci level, the combination of These two reasons creates a great opportunity for buy position, I’ll at 0.382 Fibonacci level, and my final target will be 113.00 zones,


The5ers Funding Forex Traders & Growth Program. Get Funded with up to $2.56M
We Trade Forex - Come Join Us!
the5ers.com
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.