There is now a high probability that USDJPY will travel up 400 pips as both technical and fundamental analysis support this.
Looking at the chart, price has been in an uptrend and recently broke structure to the top side as indicated by the blue line. Price has now made its way down to the demand that caused the break of structure to carry out mitigations. Look for price on intra-day and lower time frames such as 15 mins and 1 hour time frame to begin forming bullish structure to begin moving back up North. First target will be around 134.88 were liquidity lies. we will take some partials and profits here and allow the rest to run as potentially this set up can run 400 pips into 138 level.
Always remember to practice and apply proper risk and money management in your trade.
Its a Marathon and not a Sprint.
Looking at the chart, price has been in an uptrend and recently broke structure to the top side as indicated by the blue line. Price has now made its way down to the demand that caused the break of structure to carry out mitigations. Look for price on intra-day and lower time frames such as 15 mins and 1 hour time frame to begin forming bullish structure to begin moving back up North. First target will be around 134.88 were liquidity lies. we will take some partials and profits here and allow the rest to run as potentially this set up can run 400 pips into 138 level.
Always remember to practice and apply proper risk and money management in your trade.
Its a Marathon and not a Sprint.