We got very nice set up of USDJPY for set-up for number of reasons which I have explained below,
i. We have very nice set up of pattern, cup formation is completed and formation of handle is in progress.
ii. We were in up trend and now we are in period of consolidation and market is making flag, if market break flag then we will have huge spike.
iii . Above all, all of the above patterns i.e. and flag patterns are about to complete at demand zones, which increase chances of our success probability. It is expected that market will touch the upper and will got up and market did not try to go within upper , i.e. market just kissed the with .
Buy area 109.45----109.60
Stop loss should be below the lower i.e 108.50
first target should be 110.40
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