USD/JPY right on major support, remain bullish

The price has started to bounce off our entry level perfectly. We remain bullish looking to buy above major support at 111.11 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure) for a corrective bounce up to at least 112.53 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) sees major support at 34% where we expect a corresponding bounce from.


The material has been provided by InstaForex Company -