? USD/JPY Fails to Break 113 but Uptrend Remains Intact ?

2 min read

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.


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

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