USD/JPY: bulls counterattacked
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Recommendations:
BUY 109.7 SL 109.15 TP 111.3 TP2 112.15
BUY 110.9 SL 110.35 TP1 112.15 TP2 114
On the daily chart, bulls managed to move the pair outside of the short-term downtrend and start assailing resistance at 110.52. If they succeed, triggering of the inverted “Shark: pattern with target at 88.6% will become more likely.
On H1, USD/JPY reached the target of the “Widening wedge”. Pullbacks towards 23.6% and 38.2% of the wave CD of the “Shark” pattern, as well as the break of resistance at 110.9 should be used for opening long positions.
