USD/JPY: bulls want more
Read the article on FBS website
Recommendations:
BUY 110 SL 109.45 TP1 110.85 TP2 111.15 TP3 111.65
SELL 108.75 SL 109.3 TP1 107.95 TP2 107.3 TP3 106.55
On the daily chart, after USD/JPY reached 88.6% target of the “Shark”, it is transforming into 5-0. A pullback to 23.6% of the wave CD allowed opening bullish positions. If the pair rises to May highs, it will be able to continue rising to 113% of the “Shark”.
On H1, there are no doubts in a sustainable uptrend. Never the less, a break of support at 108.75 will trigger a “Bat” pattern with a target at 88.6%.
