k.archdoan
Long

USDJPY Ready to pull up gears

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Hi Traders,
We got very nice set up of USDJPY for bullish set-up for number of reasons which I have explained below,
i. We have very nice set up of cup and handle 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 bullish spike.
iii . Above all, all of the above patterns i.e. cup and handle 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 demand zone and will got up and market did not try to go within upper demand zone , i.e. market just kissed the demand zone with pin bar .
Buy area 109.45----109.60
Stop loss should be below the lower demand zone i.e 108.50
first target should be 110.40

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Trade closed: target reached
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