? USD/JPY Confirms Uptrend with Higher High and Triangle ?

Hi traders,

the USD/JPY bullish price action and break above the resistance trend line (dotted red) could finally indicate a trend change from bearish to bullish.

USD/JPY

4 hour

The USD/JPY seems to have completed a wave E triangle (purple) of a wave B (red) correction at the recent low. The current uptrend could indicate the start of a larger wave C (red) if price manages to show more bullish impulsiveness that can break above 107.50.

1 hour

The USD/JPY is potentially building multiple waves 1-2 if price is able to break above the resistance trend lines (red) and confirm a strong wave 3 (purple/pink). The Fibonacci levels are potential targets of the bullish breakout.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik Elite CurrenSea

3 Months of Free Signals

Trade with FXDD via ECS to Get Signals & Up to 25% Discounts.

Learn How to Apply