? USD/JPY Fails to Break 113 but Uptrend Remains Intact ?
Hi traders,
The USD/JPY made a higher high but price action is showing some signs of weakness. Price is now retesting the critical support zone (green), which is where a bounce or breakout will probably take place.
USD/JPY
4 hour
The USD/JPY remains bullish as long as price stays in the bullish channel. A bullish bounce could see price move up towards the Fibonacci targets.
1 hour
The USD/JPY needs to break above the resistance trend line (red) before a trend continuation becomes more likely. The support zone could provide a bouncing spot for more upside.
Good trading,
Chris Svorcik
Elite CurrenSea
