? USD/JPY Uptrend Needs to Break 110 and Stay Above 108.50 ?

2 min read

Hi traders,

The USD/JPY has broken above the resistance trend line (dotted red) which indicates that the bearish ABC has been completed. The USD/JPY could be ready for a bullish move within wave D.

USD/JPY

4 hour


The uptrend channel could provide support for a bullish continuation. A bearish break below the channel could be a warning sign for bulls but if price manages to break above 110 (orange), then a new bullish continuation is expected.

1 hour


The USD/JPY could be building an expanded bullish correction via a WXY (pink). A bearish retracement could see price test the Fibonacci support levels of wave X (pink).

Good trading,
Chris Svorcik
Elite CurrenSea
.

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