USD/JPY Increases As Planned!

analytics608a686569b2e.jpg

USD/JPY decreased in the short term as long as it stayed under the downtrend line. Still, the bias is bullish as long as is traded above the uptrend line. I've told you in my analyses that, USD/JPY could start increasing again after reaching the uptrend line or after jumping above the downtrend line.

The pair has found support, demand, at the uptrend line and now it has jumped above the downtrend line signaling further growth.

Trading Conclusion!

Jumping above 109.00 immediate former high could signal more gains ahead and could be seen as a buying opportunity. 110.00 and 111.00 could be used as upside targets. The Stop Loss could be placed below 107.47 former low, below the uptrend line.

The material has been provided by InstaForex Company - www.instaforex.com

Pages