USDJPY LONG: Weekly, Daily & 4hr Breakdown

USDJPY Weekly:
• Strong level of support at 112.63 daily with price rejecting off for 4 weeks. Last week candle rejected and closed as a bullish candle.
• Retest for the 3rd time off ascending trendline is now in play, also rejection off 112.14 hr support + 0.50 Fibonacci level.
• Also, rejection off weekly Order Block both moving averages bullish.
USDJPY Daily:
• Price couldn’t break out of daily Order Block for the 4th time.
• Price made way down to 112.14 4hr support + Ascending weekly trendline but rejected and closed as a hammer candle.
• I do expect a move to the upside possibly breaking past 112.63 resistance.
USDJPY 4hr:
• Expect price to break 112.63 daily resistance.
• If that level is broken, we will start to look for long positions up to 113.10 hr resistance + 0.71 Fibonacci level + 4hr Breaker Block.

Заявка отменена:

price fell never closed above 112.63. Will look for new enteries