✅ USD/JPY Uptrend Remains Intact After Solid Bullish Breakout ✅

2 min read

Hi traders,

The USD/JPY made a bullish bounce after a retracement within the uptrend channel. The bullish continuation within the uptrend channel is now challenging the resistance trend line again.

USD/JPY

4 hour


The USD/JPY is now at a key bounce or break spot which is resistance line (orange) of the channel. A bullish continuation could see be aiming for the Fibonacci target whereas a retracement could see price return to the support trend line (green).

1 hour


The USD/JPY seems to be building a 5 wave (orange) pattern after breaking above the resistance trend lines (dotted red) and could now be bouncing at the Fibonacci levels of wave 4 (orange).

Good trading,
Chris Svorcik
Elite CurrenSea

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