USDJPY: Resumption Of Upside

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
45 0
USDJPY appears to have completed a near textbook A-B-C consolidation.
Both trend and momentum are showing divergence which supports the analysis.

Entry at current price with SL at recent lows ($109.114) provides a great Risk-Reward ratio.
For a confirmation of uptrend resumption, you may like to wait for a strong break of the trend channel.

SL remains the same for both entries.
Jun 12
Comment: Another good entry point to initiate new position or add on to existing position.

SL: $109.114 remains
Oct 18
Trade closed: target reached: Consolidation appears complete.

Trade at your own time and target.

Happy Trading.


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