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1. Hit red trendline at 113.036 and then continue upwards has strong support at this level.
2. Watch price action at the lower fib level
3. SL @ 112.26 TP@ 113.461
4. Small gain lots of risk but on Paper account
Wait until confirmation is shown beware of false breakouts.
A long position on usdjpy will be held until the 112.3 level. This should become the breaking point of the wedge allowing a continuation of an upwards trend
Read the box dummy
RED TREND LINES ARE MAJOR
ORANGE IS MAJOR S&R LEVES
Shorting it to the .618 retracement line
Legend: RED=WEEKLY; PURPLE=DAILY; GREEN=HOURLY. I expect the pair to hit the 1.5820 level in the near future. All predictions are based on price action. Made on Monday April 3, 2017.