USD/JPY is preparing for an attack
Read the article on FBS website
Recommendation:
BUY 111.75
SL 111.2
TP1 112.4 TP2 113.3 TP3 113.7
On the daily chart, USD/JPY bulls managed to lead the pair outside the long-term downtrend channel. They are attacking resistance at 111.6 (50% of the long-term bearish wave). If they succeed, the odds of triggering of a “Shark” with 88.6% and 113% targets will increase.
On the daily chart, USD/JPY tested and retested resistance at 111.05 successfully (now it’s a support). As a result, the way up opened for the pair towards 112.4 (113%) and 113.3 targets of “Shark” and “Wolfe waves”.
