USD/JPY: yen is playing cat and mouse
Read the article on FBS website
Recommendation:
BUY 109.45
SL 108.9
TP1 110 TP2 110.45
On the daily chart, a return of the pair inside the downtrend channel shows that bears have total control. Never the less, there may be a small pullback from 78.6% and 88.6% of the wave XA of the “Bat” pattern.
On H1, a pullback of USD/JPY from 200% target of AB=CD with the following formation of Anti-Turtles will signal potential correction. For a start, bulls have to push the pair above 109.45.
