The daily and 4H trend is bullish plus in 1H the price passed the descending komu, and also in 4H it was above an ascending komu, so I entered a long position and the TP is the previous base high.
R/R = 1:1.78
JPY is currently testing a very strong resistance-zone and could continue to fall 👉
If that`s the case and we see rising yields, we can consider to BUY EUR/JPY as US-DOLLAR is under pressure!
CHFJPY looks like its reversing to the upside on the 15 minute chart. The yellow dotted line is the half way point in which I will close one of my two trades to secure profits, the other trade I will adjust the stoploss and trail it up.
After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken...